Pretoria - Deputy President Cyril Ramaphosa has encouraged South Africans to buy more of local goods and services to improve the country’s economy and reduce poverty.
“If we want our economy to grow, then we need to buy more local goods and services. If we want new jobs and better opportunities, then we need to buy more local goods and services.
“If we want to tackle poverty and reduce inequality, then we need to buy more local goods and services. South Africa is invested in establishing a strong manufacturing base,” he said.
The President was addressing the Buy Local Summit and Expo held at the Sandton Convention Centre, in Johannesburg, on Wednesday.
The Deputy President said the summit and expo offered local manufacturers and small businesses an opportunity to showcase South African-made goods and services.
He said it provided an opportunity to alert the South African consumer to the importance of localisation as an integral part of the country’s national growth and development strategy.
“We are pursuing a path of industrial expansion so that we may extract greater value from our natural resources, so that we may export more, so that we may create more jobs and so that we can sustain higher levels of economic growth.
“We believe that the buy-local strategy is vitally important to sustain a massive increase in investment in the country’s manufacturing capacity,” he said.
He said the buy-local strategy is the most effective way to ensure that income earned in this country remains in this country.
“It is the most effective way to build up domestic savings, improve our balance of payments and promote a stable macroeconomic environment,” he said.
He said government is committed to growing sustainable, labour-absorbing local industries.
“Together with our social partners, we are implementing programmes to diversify our economy and move up the resource value chain.
“Improving the quality of education and expanding access to education are key to the achievement of broad-based growth, enhanced productivity and sustainable development.
“Alongside this work, we must undertake an intensive campaign to massively expand local procurement,” said the Deputy President. - SAnews.gov.za
