President Cyril Ramaphosa has unveiled a 10-point plan aimed at stimulating economic growth, creating jobs, and addressing poverty and the high cost of living in South Africa. He described the ongoing economic challenges as “unacceptable” during a special National Executive Committee (NEC) meeting held at the Birchwood Hotel in Ekurhuleni.
Ramaphosa said the plan was informed by the ANC’s 55th National Conference resolutions, the 2024 election manifesto, and the Medium Term Development Plan, with a focus on inclusive growth, job creation, and building a capable and ethical state.
“We have made progress in economic restructuring, infrastructure investment, and public programmes supporting employment and livelihoods,” Ramaphosa said. “But the impact of this work is yet to be felt in growth and employment figures.”
The 10 interventions outlined by Ramaphosa include:
1. Electricity and infrastructure investment – Fast-tracking the Transmission Development Plan and offering preferential electricity tariffs for key industries such as ferrochrome, manganese, and steel.
2. Freight and logistics recovery – Implementing Transnet’s recovery plan, encouraging private sector participation in rail and port operations, and upgrading export corridors.
3. Rebuilding chrome and manganese industries – Finalising export tariffs, implementing defensive duties, and expanding alloys and battery precursor production.
4. Strengthening state capacity for major projects – Professionalising project management, establishing a cross-government coordination unit, and ring-fencing catalytic projects.
5. Local economic development – Investing in infrastructure and development in townships, rural areas, and small towns, and integrating local economic development into district planning.
6. Labour activation and public employment – Scaling up the Presidential Employment Stimulus, reskilling industrial sectors, and expanding artisan and apprenticeship pipelines.
7. SMME support and financing – Expanding concessional finance and market access for small and medium enterprises.
8. Provincial economic growth – Revitalising industrial parks, supporting labour-absorptive sectors, and aligning with special economic zones.
9. Trade diversification – Expanding participation in the African Continental Free Trade Area, increasing exports to BRICS countries, and providing industrial support to affected sectors.
10. Budget and macroeconomic coordination – Aligning fiscal, monetary, trade, and industrial policy, and mobilising development finance institutions and pension funds for productive investment.
Ramaphosa also announced the establishment of an Economic War Room in the Presidency to coordinate government performance and track progress on the recovery plan. He emphasised that professionalisation and merit-based appointments would be central to the plan’s success.
“The NEC resolved to act urgently to address the economic emergency and accelerate growth, job creation, and poverty reduction,” Ramaphosa said.
The plan aims to provide immediate interventions while supporting longer-term economic transformation and inclusivity across South Africa.
