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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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