The government and business believe 2025 presents an opportunity for them to craft a more optimistic “SA Inc” narrative and drive increased investment, economic growth and job creation.
The Government Business Partnership which met Thursday reaffirmed its commitment to significantly growing the economy. The presidency and Business for SA (B4SA) released a joint statement after the meeting, attended by president Cyril Ramaphosa, ministers and senior business leaders.
“The partners emphasised the importance of seizing this moment to achieve meaningful progress,” the statement said.
“The focus for 2025 is on accelerating the crucial reforms, operational improvements and key interventions in the areas of energy, transport and logistics, crime and corruption, and youth employment.”
Ramaphosa said to achieve economic growth of 3% would require “an extraordinary effort, not just from this partnership but from all stakeholders and all South Africans. This means we have to remain focused and purpose-driven and accelerate implementation. Together we are moving ever closer to the promise of a thriving and inclusive economy that meets the needs of all our people.”
The statement said the reduction of load-shedding was the most significant achievement of phase one of the partnership and lauded as notable policy steps taken by government such as the promulgation of the Electricity Regulation Amendment Act (ERA) — which introduces far-reaching reforms of the energy sector — and the release of the Transnet Network Statement which provides for the introduction of private train operating companies on the rail network.
“The full implementation of these interventions, in addition to the reforms already under way through Operation Vulindlela, have the potential to lift GDP growth to above 3%, which is essential to reduce unemployment.
‘Accelerate efforts’
“The partners acknowledged that while considerable progress has been made there is a need to accelerate efforts to deliver on their ambitious plans.”
Operation Vulindlela is a joint initiative by the presidency and National Treasury to implement structural economic reforms.
The statement went on to say that SA needed to attract the substantial investment needed to drive economic growth.
The government and business believe that as host of the G20 summit, and the B20, SA will have the opportunity to showcase the partnership as a successful public-private collaboration model.
“The partnership provides a compelling case study for many emerging and developed markets, demonstrating how business can leverage its expertise and resources to help implement government’s policy agenda in areas where key reforms are required to foster economic growth,” the statement said.
It noted that the partnership is based on a clear set of principles, namely exceptional governance, a well-defined delineation of roles between government and business, and a results-driven approach to achieving meaningful progress.
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