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Ramaphosa confident his new cabinet will boost SA’s economy

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President Cyril Ramaphosa announced he would pick men and women in his cabinet who would work hand-in-hand with him to achieve his goal of growing the country’s economy.

While addressing the Goldman Sachs forum in Johannesburg on Wednesday, 15 May 2019, President Cyril Ramaphosa told the business leaders in attendance that the government planned to introduce changes in the country’s overall structure to attract investors.

“What we will be seeking to come out with an institutional framework that will serve our people best and our economy well.

“The key problem we face as a country is low economic growth. It all revolves around the economy. We are going to focus on more ways of generating economic growth and creating jobs. The structure of the government is going to speak to that,” he said.

Ramaphosa’s administration is under pressure to create jobs, with the latest unemployment figures projecting that six million people are currently unemployed. He said that one of the very first things he would do would be to reintroduce the policy and research advisory unit in the Presidency that would pave a new path for the economy.

“We are going to have a policy unit that is going to help to inform policy at the government level and to ensure policy implementation. It (policy unit) will be in the presidency and under my continuous watch to ensure that things do happen,” he said.

Part of Ramaphosa’s plan includes cleaning up state-owned entities like Eskom and Transnet. He said Eskom is too important to fail.

“One of the steps we’ll embark on is restructuring Eskom. It has been broadly accepted that in order to improve, we need to restructure,” Ramaphosa said.

Abenathi Gqomo