Here’s What Business Heard in South Africa’s SONA

Business Unity South Africa has lamented the absence of “real implementation plans” from President Cyril Ramaphosa’s June State of the Nation Address (SoNA) and has urged him to work with business to table a clear implementation plan, with timeframes and milestones, to address South Africa’s prevailing economic “crisis”. Busa welcomed Ramaphosa’s commitment to a social compact and said it was prepared to work with him in building such a consensus in the national interest. However, such a compact could not avoid hard decisions and should send unequivocal messages in support of building investor confidence. President Cyril Ramaphosa described the youth unemployment rate of 50% as a national crisis. He pledged to create two million jobs for young people over the next decade. He listed economic growth, job creation as well as improving education and health as the country’s top priorities. He also promised to support the country’s struggling electricity utility Eskom.

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