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President Cyril Ramaphosa,File Pic GCIS

Plans to generate economic growth and job creation

The structure of the new administration will enable government focus on generating higher economic growth, creating more jobs and serving South Africans better, the presidency said in a statement.

President Cyril Ramaphosa made assurance during his interaction with a forum of investors in Johannesburg on Wednesday.

The forum includes chief executive officers, chief information officers, chief financial officers, chairpersons of leading companies, financial institutions across all industry sectors from South Africa and other parts of the continent.

The Presidency said the interaction with the Ramaphosa focuses on government’s plans to achieve higher growth during the sixth administration and in the coming two decades.

“The President’s interaction with business leaders representing assets under management of $400 billion formed part of a forum convened by Goldman Sachs,” the presidency said.

Goldman Sachs is a leading global investment banking, securities and investment management firm.

It provides a wide range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals.

President Ramaphosa said the outcome of the national and provincial elections shows confidence in the African National Congress.

It expresses that citizens are expecting a better life, economic growth and an end to corruption.

The President said the incoming administration  will focus on implementation of the National Development Plan (NDP).

“Men and women will drive plans that feed into the NDP with great competence and capability to serve the people of South Africa so we can secure economic growth.”

He, however, acknowledged that weaknesses existed within state-owned enterprises, saying work will begin to strengthened governance and the financial standing of state-owned enterprises including Eskom.

On land reform, President Ramaphosa reiterated government’s commitment to a program of land reform that will unfold within the framework of the Constitution and the law.

“This  programme will entail participation by all South Africans,” added Ramaphosa.

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