Cyril Ramaphosa wants SA to have own version of Silicon Valley

Cyril Ramaphosa wants SA to have own version of Silicon Valley

President Cyril Ramaphosa is convinced that South Africa has trillions in potential lying in wait, if only we can keep up with the digital revolution. Ramaphosa feels that Mzansi could create the equivalent of Silicon Valley, home to the world's leading technology firms, including Apple and even Facebook.

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President Cyril Ramaphosa is convinced that South Africa stands to benefit from the digital revolution.

However, in order for the revolution to take place, Ramaphosa insists that risks must be taken and entrepreneurship encouraged during his address at the fourth industrial revolution digital economy summit.

The revolution (4IR) is expected to join digital growth with the physical worlds and human biology, reports BusinessLIVE.

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Ramaphosa says his administration is committed to a skills revolution, hoping to give SA the labour force needed to thrive in a tech-dominated world:

“The digital revolution is an opportunity to build an entrepreneurial state, where government’s own appetite for risk and innovation inspires large-scale entrepreneurship and unlocks economic potential.”

Companies such as Google enjoyed state funding at various points in time, Ramaphosa noted:

"Therefore an entrepreneurial state should not only provide funding but should also have capacity to determine the strategic direction of entrepreneurship.”

Those who are concerned for possible job losses in the move towards technology-based infrastructure were reassured that more would be created, with Ramaphosa appointed as co-chair of the International Labour Organisation’s Global Commission on the Future of Work.

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