Share

ANC government 'inherited an economy in crisis' in '94 - Ramaphosa

In order to have a better South Africa, it is required that the mistakes of the last few years, including that of the Jacob Zuma administration be corrected, according to ANC president Cyril Ramaphosa.

Ramaphosa started a three-day campaign trail in Kwazulu-Natal on Friday with an exclusive fundraising gala dinner at the Coastlands Hotel in Umhlanga.

The province was once deemed a no-go area for Ramaphosa ahead of the ANC's Nasrec elective conference, where former president Zuma still enjoys massive support.

In delivering his keynote address at the dinner, Ramaphosa reiterated that there was a need to restore policy certainty and consistency, rooting out corruption in state-owned enterprises, strengthening law enforcement agencies and affirming the rule of law.

"We have set ourselves the target of being in the top 50 countries in the world for ease of doing business within 3 years," he said.

READ: 'I’ll talk to them later' - Ramaphosa snubs media on Ekurhuleni campaign trail

Ramaphosa wants to remove "unnecessary regulatory impediments to investment, and have a reformed immigration regime to encourage an inflow of skills and tourists, significantly reduce crime and corruption, and develop ports, railways and roads".

"We will address monopolies, excessive economic concentration and the growth-inhibiting structure of the economy," said Ramaphosa.

The ANC president said that there was a need for government to support small businesses, and that would, in turn, mean a growing GDP.

"We will do this through a more effective competition policy and will open up the economy to participation by small and medium enterprises, emerging co-operatives, and township and village enterprises".

READ MORE: 11 takeouts on Andile Ramaphosa's 'dodgy' Bosasa millions

He said that the ANC government in 1994 "inherited an economy in crisis", saying it was an economy designed to serve the interests of the few, and to consign the black majority to poverty, marginalisation and mass unemployment.

"The state was crippled by massive debt and large deficits, jobs were scarce and growth was on the decline. There is broad agreement among all South Africans that our most pressing and immediate task is the creation of employment on a far greater scale than we have achieved to date."

Ramaphosa has assured that his government will mobilise funding from public and private sources for more roads, schools, health facilities, water and sanitation infrastructure, transport networks, broadband and energy generation and distribution capacity.

The president will conclude his visit to the province on Sunday.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Should the Proteas pick Faf du Plessis for the T20 World Cup in West Indies and the United States in June?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes! Faf still has a lot to give ...
67% - 902 votes
No! It's time to move on ...
33% - 439 votes
Vote
Rand - Dollar
18.73
+1.5%
Rand - Pound
23.40
+1.7%
Rand - Euro
20.06
+1.7%
Rand - Aus dollar
12.26
+1.1%
Rand - Yen
0.12
+2.3%
Platinum
924.00
-0.2%
Palladium
966.00
-2.5%
Gold
2,341.38
+0.4%
Silver
27.47
+0.2%
Brent-ruolie
89.01
+1.1%
Top 40
69,366
+1.4%
All Share
75,360
+1.4%
Resource 10
62,534
+0.7%
Industrial 25
103,980
+1.4%
Financial 15
16,105
+1.9%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE