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President Cyril Ramaphosa briefing members of the media.
President Cyril Ramaphosa has emphasised that South African business executives have a critical role to play in driving inclusive economic growth on the continent and across the globe.
Speaking at a working dinner with some of the country’s leading company CEOs in Sandton, the President stressed that the country’s business community is well-positioned to enable investment and trade across Africa.
He says the success of a public-private partnership has been evidenced by the successful implementation of the structural reforms.
“We are set to record another primary budget surplus and are on a path to reduce our sovereign debt. Our country has been taken off the FATF grey list after two years of hard work. And last week, S&P upgraded our country’s sovereign credit rating. Electricity supply has dramatically improved and we are seeing progress in the turnaround at our ports and railways,” adds Ramaphosa.
Ramaphosa has also assured corporate South Africa that it has the support of government, in its efforts to establish trade and investment opportunities throughout the continent.
He urged the business community to continue to innovate and strengthen its trading capacity despite the challenging environment.
“The implementation of the African Continental Free Trade Area will profoundly transform market access for South African goods, services and investments. It will help to drive regional integration and value chains across borders. It will expand opportunities for businesses to access a wider African market of about 1.4 billion people, with a combined GDP of $3.4 trillion,” says the President.
VIDEO | President Cyril Ramaphosa addresses gathering of CEOs:
