With a growing sense of optimism for the South African economy, President Cyril Ramaphosa's State of the Nation address will likely focus on bolstering economic growth, addressing energy challenges, and promoting business confidence. Business Leadership South Africa CEO Busisiwe Mavuso calls for continued commitment to the Energy Action Plan, expedited freight logistics reform, and a robust response to the financial crisis facing municipalities. She also highlights the importance of showcasing South Africa's commitment to combating corruption and hosting a successful G20 summit.
The president will deliver his state of the nation speech in a very different environment this year with more hope for the economy.The upcoming state of the nation and budget speeches will be important to speed up South Africa’s growth initiative after the country entered the new year on a strong footing with the government of national unity making good progress on several fronts.
“This week’s Sona is an opportunity to consolidate the work needed to deliver 3% economic growth by the end of this year. That is the kind of growth that will start making a meaningful impact on unemployment, spur investment and generate the tax revenue required to support government’s social programmes., in line with our common interest to deliver growth and the Sona speech can reinforce the plans for action to achieve that outcome.
She points out that some elements are behind target, including new generation and transmission investment, but says we can catch up through government’s partnership if the president recommits to driving the momentum, particularly the reforms needed to get private sector grid investments under way. “Of course, an effective criminal justice system has many economic and social benefits and this underpins the rule of law in our country. That is why business is committed to supporting reform through Business Against Crime and initiatives such as BLSA’s memorandum of understanding with the NPA that allows it access to top skills to build its cases.”
“There is a systemic risk that some large municipalities will simply collapse and fail to provide basic services to their residents and businesses. This is now recognised as a major challenge and business and government are working on interventions and support. The president can emphasise government’s seriousness in tackling the problem.”
ECONOMY ENERGY CORRUPTION G20 MUNICIPALITIES
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