Goldman Sachs Conference: Ramaphosa shares vision for South Africa's growth

South African President Cyril Ramaphosa recently discussed the country's economic growth, structural reforms, and plans to enhance growth potential at the prestigious Goldman Sachs Conference. President Ramaphosa highlighted the longstanding challenge of job creation in South Africa, noting fluctuations in job creation rates over the years. He emphasized the need for significant reforms in key industries to drive economic progress. One such area is the restructuring of the electricity sector, which has attracted substantial investments in renewable energy projects, particularly in the Northern Cape. The President outlined the revitalization of logistics, rail networks, and ports through private sector involvement to promote competition, innovation, and technology advancements. Ramaphosa reiterated the government's commitment to public-private partnerships and concession agreements to optimize infrastructure development. Furthermore, he addressed concerns regarding labour laws and competitiveness in the global market, stressing the importance of cooperation with labour unions to achieve mutual benefits. Despite challenges, Ramaphosa expressed confidence in collaborative efforts among government, business, and labour to pave the way for sustainable growth and prosperity in South Africa.