Team work will lead to a fair economy - Ramaphosa

By Drum Digital
26 September 2014

Deputy President Cyril Ramaphosa said the government and social partners need to work together to ensure transformation continues.

“Our capacity to transform the economy through legislation and spending alone is limited. We need the agreement and active involvement of all social partners if we are to build a stronger, more equitable and more vibrant economy,” deputy president Cyril Ramaphosa said yesterday.

Speaking at the annual conference of the Association of Black Securities and Investment Professionals, Ramaphosa said  the government and social partners need to work together to ensure transformation continues.

He also said the government needed to work towards radical economic transformation and the economy needed to reflect the country’s demography: “Broad-based black economic development, skills development, supplier development and preferential procurement are parts of the package of measures we’ve employed over the past two decades to achieve this objective.”

The deputy president has identified infrastructure investment, a lower regulatory burden on business, better education and skills training, youth development, harnessing of technology and innovation as key areas in ensuring economic transformation.

Resources for public employment programmes had been increased and special economic zones established in disadvantaged areas, he said.

“And we have intensified our efforts to promote entrepreneurship through our allocations to the small enterprise development agency."

-SAPA

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