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The President of South Africa H.E Cyril Ramaphosa told world leaders at the World Economic Forum (WEF) on Tuesday, 21 January 2025, that South Africa is stable and safe to invest in and has prospects of great success and growth.
Ramaphosa’s main selling ticket at the 55th WEF in Switzerland was the South Africa’s Presidency of G20 and a stable political environment and a growing economy under the Government of National Unity (GNU).
He told the world leaders that, though the different parties comprising the GNU may be at odds when it comes to ideology and campaigned on different platforms, the parties have clamped together and agreed on a common goal that of growing an inclusive economy, create jobs and build a capable state.
“The establishment of the Government of National Unity following the elections in May last year has demonstrated the commitment of leaders across the political spectrum to stability, progress and partnership.
Surveys have shown that South Africans have confidence in the Government of National Unity to take the country forward. It has also contributed to a marked improvement in business and investor confidence,” said the President.
According to Ramaphosa, the economy of the country is on an upward trajectory which is indicative that the economic reforms being implemented are effective. He said South Africa is undergoing a fundamental transformation.
“We have introduced bold economic reforms to overcome persistent challenges and unlock the vast potential of our country and its people.
These reforms have underpinned the country’s economic recovery in the wake of more than a decade of stagnant growth, state capture and the worst global pandemic in more than a century. These reforms are laying a firm foundation for sustained and accelerated growth into the future. It is this structural transformation that is sharpening South Africa’s competitive edge, boosting productivity and attracting investment,” said Cyril Ramaphosa.
President Ramaphosa told the delegates that it is a momentous honour for South Africa as the first African country to head the G20, which will allow them to pursue the agenda of global equality.
He said through South Africa’s G20 Presidency, the country will demonstrate its unwavering commitment to global solidarity, equality and sustainability.
“It is this principle of Ubuntu that underpins South Africa’s leadership and vision for our G20 Presidency. We recognise that no challenge and no triumph exists in isolation.
Whether addressing climate change, economic inequality or the pursuit of sustainable development, we are bound together by shared aspirations and mutual responsibilities,” he said.
