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Municipalities will soon be up for grabs as the country has entered local government election year, political parties will be criss-crossing the country trying to sell their offering to the people in exchange for their votes.
Vital to South Africans is the economy and the high rate of unemployment that needs to be addressed. The economy of the country, though it has stagnated, is showing some green shoots. The South African market is faced with serious disinvestment challenges, with some major international companies withdrawing from the market and some partially shutting down.
In his January 8 statement, the President of the African National Congress (ANC), Cyril Ramaphosa, said one of the six pillars that his party is going to focus on is that of speeding up economic transformation, inclusive growth and creating jobs for South Africans.
Ramaphosa, outlining on how the ANC is going to achieve this, he said the liberation party’s strategy for inclusive growth includes accelerated infrastructure investment, forward-looking industrial policy, improved service delivery, land reform, transformative spatial planning, black economic empowerment and supportive macroeconomic policies.
He said growth must drive radical social and economic transformation through the redistribution of wealth and opportunity.
This sounds wonderful to the masses that are unemployed and to the business community. For more than a decade, the economy of the country has been sluggish, growing at very slow pace. The tide is however turning, whether as a result of the efforts and policies of the ANC or as a result of the Government of National Unity’s (GNU) impact on the global economy.
Ramaphosa is optimistic that things are changing for the better, as things are turning; he says the economy is approaching a turning point. According to Ramaphosa, projections indicate that through disciplined implementation of the ANC Ten-Point Economic Action Plan they can meet their targets on inclusion, growth and employment.
“Our investment philosophy must be coherent and transformative. It must enable private-sector investment in national infrastructure revitalisation through diverse financing mechanisms, while maintaining strategic state ownership and effective regulatory control. A social compact that unites government, labour, civil society and business around a coherent national investment strategy to accelerate growth and development is an immediate priority.
We have agreed that industrial policy must be a leading instrument of economic development, positioning diverse industries to succeed in an increasingly digitised and decarbonised world economy. We reaffirm our commitment to broad-based structural transformation and mandate the implementation of local content targets to support re-industrialisation,” said the ANC President.
“We will advance digital transformation and inclusion, and invest in science, innovation and research. We are making significant headway in improving the efficiency of our railways and ports. Rail freight volume increased from 150 million tonnes in 2023 to 174 million tonnes in 2025,” he continued.
The ANC will not only focus on mainstream businesses, but will also give support to small businesses by creating a conducive environment for them to thrive. Attention will be given to townships and rural areas to help grow local economy and create jobs. Ramaphosa said these small businesses will also be empowered through financial support, skills development and other support programmes.
“Youth unemployment remains one of our most urgent challenges. Since October 2020, new public employment programmes have created earning opportunities for over 2 million participants.
The NGC mandated government to reform the skills system to better meet the needs of the economy and to ensure that young people are equipped for employment and entrepreneurship. This includes strengthening basic education and reviewing the SETA system,” he said.
