ANC government 'inherited an economy in crisis' in '94 - Ramaphosa

President Cyril Ramaphosa [Photo: GCIS]
President Cyril Ramaphosa [Photo: GCIS]

In order to have a better South Africa, it is required that the mistakes of the last few years, including that of the Jacob Zuma administration be corrected, according to ANC president Cyril Ramaphosa.

Ramaphosa started a three-day campaign trail in Kwazulu-Natal on Friday with an exclusive fundraising gala dinner at the Coastlands Hotel in Umhlanga.

The province was once deemed a no-go area for Ramaphosa ahead of the ANC's Nasrec elective conference, where former president Zuma still enjoys massive support.

In delivering his keynote address at the dinner, Ramaphosa reiterated that there was a need to restore policy certainty and consistency, rooting out corruption in state-owned enterprises, strengthening law enforcement agencies and affirming the rule of law.

"We have set ourselves the target of being in the top 50 countries in the world for ease of doing business within 3 years," he said.

READ: 'I’ll talk to them later' - Ramaphosa snubs media on Ekurhuleni campaign trail

Ramaphosa wants to remove "unnecessary regulatory impediments to investment, and have a reformed immigration regime to encourage an inflow of skills and tourists, significantly reduce crime and corruption, and develop ports, railways and roads".

"We will address monopolies, excessive economic concentration and the growth-inhibiting structure of the economy," said Ramaphosa.

The ANC president said that there was a need for government to support small businesses, and that would, in turn, mean a growing GDP.

"We will do this through a more effective competition policy and will open up the economy to participation by small and medium enterprises, emerging co-operatives, and township and village enterprises".

READ MORE: 11 takeouts on Andile Ramaphosa's 'dodgy' Bosasa millions

He said that the ANC government in 1994 "inherited an economy in crisis", saying it was an economy designed to serve the interests of the few, and to consign the black majority to poverty, marginalisation and mass unemployment.

"The state was crippled by massive debt and large deficits, jobs were scarce and growth was on the decline. There is broad agreement among all South Africans that our most pressing and immediate task is the creation of employment on a far greater scale than we have achieved to date."

Ramaphosa has assured that his government will mobilise funding from public and private sources for more roads, schools, health facilities, water and sanitation infrastructure, transport networks, broadband and energy generation and distribution capacity.

The president will conclude his visit to the province on Sunday.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Lockdown For
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research. Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Yes, the benefits outweigh the risk for me
32% - 2635 votes
No, I have deleted it
37% - 3117 votes
Yes, but I am considering deleting it
31% - 2568 votes
Rand - Dollar
Rand - Pound
Rand - Euro
Rand - Aus dollar
Rand - Yen
Brent Crude
Top 40
All Share
Resource 10
Industrial 25
Financial 15
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.