President Ramaphosa blames SA’s economic woes on apartheid and state capture

President Ramaphosa blames SA’s economic woes on apartheid and state capture

- President Ramaphosa believes apartheid, state capture and corruption are the main cause of South Africa’s current economic woes

- The president said state capture and corruption had dented investor confidence in both the public and private sectors

- Ramaphosa said the legacy of apartheid had left the economy starved of meaningful investment

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President Cyril Ramaphosa believes state capture, corruption and the legacy of apartheid are all to blame for South Africa’s current economic woes and unemployment crisis. Ramaphosa said state capture and corruption had dented investor confidence in both the public and private sectors.

Ramaphosa took a different stance in blaming apartheid to his predecessors. The president did not directly blame apartheid for the economic or unemployment crisis but said the legacy of apartheid was still being felt by the country as a whole.

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Ramaphosa said the legacy of apartheid meant that the current government was still struggling with an economy which was starved of meaningful investment in education and manufacturing. Ramaphosa said the economy was built on mining and remained largely unchanged.

Briefly.co.za gathered that another legacy of apartheid is special segregation which adds to the cost of the economy by forcing people to use costly transport because they currently live far from city centres, transport links and their workplaces.

SowetanLive.co.za reported that Ramaphosa once again reiterated his administration’s commitment to eradicate corruption and bring an end to state capture. Ramaphosa said corruption and state capture had taken valuable resources away from development programs.

eNCA.com reported that Ramaphosa made these remarks in his opening address at the job-summit which is taking place in Johannesburg. Ramaphosa told delegates his administration had noticed an increase in corrupt actives in the private sector in recent years.

Ramaphosa said business leaders had assured him of the private sector’s commitment to fighting corruption through the implementation of various initiatives and programs. Business leaders also committed to implementing a zero-tolerance policy in regards to corrupt activities.

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While it might be true that the government has made huge strides in fighting poverty and had helped many South Africans, Ramaphosa admitted there was still a massive mountain to climb with millions of South Africans still struggling on a daily basis.

The two-day job-summit brings together government, labour, business, social and other leaders in an effort to deal with the current unemployment crisis. Ramaphosa called on those attending the summit to come up with real and meaningful ways to address the issue.

Ramaphosa hopes the summit will deliver real results rather than becoming just another series of meetings with vague goals and no measurable impact.

READ ALSO: 5 solutions the job summit should consider to tackle SA’s unemployment crisis

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Source: Briefly.co.za

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