SA: President to address inaugural business indaba

By – SAnews.gov.za

President Cyril Ramaphosa will this afternoon address Business Unity South Africa’s (BUSA) inaugural Business Economic Indaba in Johannesburg.

The President is expected to speak at the event at Gallagher Convention Centre in Midrand under the theme “Strategic Dialogue for a Transformed and Inclusive Economy”.

The indaba will see social compact partners in government, business and labour explore solutions that will build and sustain the economy for the benefit of all.

“President Ramaphosa has during the course of his Presidency engaged extensively with business leadership in the country and abroad, driven by the effort to secure more than US $100 billion in domestic and international investment in five years, which is critical to job creation and industrialisation in the South African economy,” said the Presidency.

The President has outlined an economic stimulus and recovery plan which entails implementing and enhancing economic reforms, reviewing public spending to support job creation, establishing an infrastructure fund, prioritising urgent matters in education and health and investing in municipal social infrastructure improvement.

Prior to his address this afternoon, President Rampahosa will attend a meeting of the Public-Private Growth Initiative (PPGI).

The partnership was established in April 2018 with an aim to align strategic planning between government and the private sector in the interest of improving economic growth and the way government and business work together.

This afternoon’s meeting will be chaired by Minister in the Presidency responsible for Planning Monitoring and Evaluation, Dr Nkosazana Dlamini Zuma.

The automotive, agricultural, chemicals, manufacturing, tourism, renewable energy – wind and solar, energy, construction, pharmaceutical, mining, retail, ICT, health and insurance are the sectors of the economy which comprise this partnership.

These sectors will present their five year, projected high level growth plans which will accelerate economic growth and job creation. The 14 sectors in the PGI will also highlight challenges that obstruct growth and the government intervention required to resuscitate unhindered production.