Ramaphosa Stresses Urgency in Translating Economic Growth to Improved Lives for South Africans

Johannesburg: President Cyril Ramaphosa emphasized that the true success of the Government-Business Partnership hinges on ensuring that economic growth leads to tangible improvements in jobs, incomes, and living conditions for South Africans. During the launch of Phase Three of the partnership in Johannesburg, the President highlighted the need to move beyond stabilizing the economy and implementing reforms towards achieving sustained and inclusive growth. According to South African Government News Agency, President Ramaphosa stated that the economic recovery should not only reflect in improved financial metrics and market indicators but should also positively impact the lives of South Africans. He stressed the urgency of experiencing economic progress in the present, asserting that South Africans could not wait for future growth promises. The President outlined that Phase Three aims to convert prior achievements into investments, economic activities, and job creation. The immediate goal is to raise economi c growth above 3%, which he clarified should be seen as a stepping stone towards more robust and inclusive growth. He emphasized the importance of directing growth efforts towards labor-intensive sectors and businesses capable of large-scale employment creation. The Government-Business Partnership, established in 2023, initially focused on addressing constraints such as the energy crisis and crime. It brought together over 130 CEOs and companies to support economic reforms. Phase One prioritized stabilization, while Phase Two expanded to include reforms and youth employment. President Ramaphosa highlighted successful outcomes, such as improved power station performance and enhanced freight logistics, as examples of the partnership's achievements. Phase Three's framework, "Inclusive Growth, Jobs and Confidence," emphasizes transforming investor sentiment and reforms into concrete economic activities. The government has set a target to mobilize R3 trillion in investment, focusing on sectors like tourism, agri culture, and mining. These sectors were chosen for their potential to attract investment, generate foreign revenue, and create jobs. President Ramaphosa asserted that the partnership's ultimate measure of success lies in its impact on ordinary people's lives, emphasizing that reforms must translate into opportunities for employment, reliable services for small businesses, and security for farmers and communities. He called on businesses to invest in response to improved confidence and urged the government to provide policy certainty and reliable infrastructure. The President concluded by underscoring the need for urgency, disciplined execution, and accountability in the next phase, with a focus on converting confidence into investment and shared prosperity. The partnership will maintain its focus on crime, corruption, and outstanding reforms in energy, transport, and logistics.