Lend a hand to boost SA's economy

Thursday, June 28, 2018

President Cyril Ramaphosa is set to rally the business community to lend a hand in growing and boosting the country’s economy at the World Economic Forum roundtable with the South African government.

“The WEF Roundtable is convened in South Africa to shape an inclusive and sustainable agenda for economic growth, to address the triple challenges of poverty, inequality and unemployment.

“Various stakeholders in both business and government will have the opportunity to engage on various issues of common interest and consider our country’s economic outlook,” said the Presidency.

The roundtable will take place in Rosebank, Johannesburg on Thursday.

In his State of the Nation Address President Ramaphosa announced as one of the measures towards inclusive growth, South Africa’s drive to increase new local and foreign direct investment as part of mobilising resources for job creation and economic growth over the next five years.

The WEF roundtable will serve as a precursor to government’s Investment Conference set to take place in October this year.

Under the theme “Shaping South Africa’s Economic Renewal - the role of Business” delegates at the roundtable will tackle possible solutions to re-energising the country’s economy.

SACU Summit

The WEF takes place, as President Ramaphosa gears up to attend the 6th Southern African Customs Union (SACU) Summit in Gaborone on Friday. 

SACU is the oldest customs union in the world, comprising of South Africa, Botswana, Lesotho, Namibia and the Kingdom of Swaziland. 

The SACU Summit of Heads of States and government meet on an annual basis to discuss progress on the implementation of the agreed SACU Work Programme. 

This year’s summit will also consider the progress made thus far by the Two Ministerial Task Teams on Trade and Industry as well as Finance, which were established in 2017 to facilitate the review of the 2002 SACU Agreement. 

The Summit is also anticipated to provide a strategic direction on the region’s development integration agenda which aims to promote regional economic integration, industrialisation and economic diversification of SACU economies. 

President Ramaphosa will be accompanied by Trade and Industry Minister Rob Davies and Finance Minister Nhlanhla Nene. – SAnews.gov.za