Earlier this week President Cyril Ramaphosa attended the Goldman Sachs investor conference held in Westcliffe, Johannesburg. He reassured potential investors that the country was doing its best to ensure that it comes out of the current economic slump and moves into a period of growth.
“We want to move out of the low growth levels we have been in and move into top gear,” said the President.
According to SA News, added to that, among the main topics that the President discussed at the conference where economic growth, Eskom, youth unemployment and land reform.
The President highlighted management issues among the challenges Eskom is facing, stating that bloated staff and billions in debt are some of the areas that needed to be addressed.
“We have to restructure Eskom and work out a credible business plan to get Eskom out of the mess that it is in. It is a valued national asset and we are not going to privatise Eskom. The elephant in the room is always going to be the debt,” added Ramaphosa.
He further discussed the high unemployment rate South Africa is facing, saying that it was a cause for concern particularly among the youth. He then urged corporate South Africa to embrace young people by offering them mentorship opportunities and training that was more skills focused.
The President assured investors that the land debate will be managed according to the South African Constitution.
“We will not allow land grabs, we will ensure that the process of land reforms takes place orderly with the revamping of the Expropriation Act,” concluded Ramaphosa.[Source – SA News] [Image – CC 0 Pixabay]