President Cyril Ramaphosa chairs the Government-Business Partnership meeting held at the Union Buildings in Pretoria. Picture: Supplied/GCIS
President Cyril Ramaphosa has reiterated the Government-Business Partnership’s unwavering commitment to energising the national economy in a meeting the government ministers and captains of industry.
This initiative aims to accelerate the necessary reforms and operational improvements vital for the country’s growth trajectory.
The partnership’s focus for 2025 encompasses transformative efforts in energy, transport and logistics, tackling crime and corruption, and enhancing youth employment opportunities.
Building on the achievements of the partnership’s first phase, which notably included the successful reduction of load shedding, Ramaphosa highlighted key policy advancements such as the promulgation of the Electricity Regulation Amendment Act (ERA) and last month’s release of the Transnet Network Statement as critical steps forward.
Ramaphosa said these interventions represented more than mere policy adjustments; they set the stage for potentially lifting South Africa’s economic growth to more than 3%.
He said such an increase was crucial not only for economic revitalisation but also for tackling the pervasive issue of unemployment that has long plagued the nation.
During the discussions, it was acknowledged that while significant strides have been made, there is an urgent need to enhance efforts in attracting substantial investment.
This investment is considered pivotal for achieving not just higher economic growth but also inclusivity across South African society. The partnership, underpinned by a clear governance framework and defined roles between government and business, is positioned as a leading model of successful public-private collaboration.
As South Africa prepares to host the G20 summit and the B20, this partnership will serve as an exemplary case study for both emerging and developed markets, showcasing how businesses can align their resources with government policy to facilitate essential reforms and foster economic dynamism.
Looking forward, the year 2025 presents an important opportunity to reshape the narrative surrounding “SA Inc.”, enabling the nation to stimulate higher investment levels, ramp up economic growth, and foster job creation.
Ramaphosa emphasised that this moment must be seized with both determination and urgency as South Africa seeks to achieve its economic ambitions.
“As we begin what promises to be a momentous year, there is much progress to build on. We know that to achieve a goal of 3% economic growth will require an extraordinary effort, not just from this partnership but from all stakeholders and all South Africans,” Ramaphosa said.
“This means we have to remain focused and purpose-driven and accelerate implementation. Together we are moving ever closer to the promise of a thriving and inclusive economy that meets the needs of all our people.”
BUSINESS REPORT