- President Cyril Ramaphosa has explained why he is hard at work in London attempting to attract investment
- Ramaphosa says that the economy needs to grow at a faster pace to keep up with the number of jobs needed
- The president aims to build an inclusive economy that will boost the quality of life in South Africa
President Cyril Ramaphosa says the economy needs to grow at a substantially faster pace than what it currently is.
Briefly.co.za reported that the politician had flown to London where he will be giving a speech at the Financial Times Africa Summit:
“I am in London addressing the Financial Times Africa Summit 2019, a gathering of business people, investors and decision-makers. This event, taking place far from our shores, is important for the work we are doing to improve the lives of our people. As we have all recognised, if we are to create jobs and reduce poverty, we need to grow our economy at a much faster pace.”
In order for this to happen, investments - from both local and international sources - is imperative. Ramaphosa is doing his best in the United Kingdom to portray Mzansi as a stable, sustainable investment opportunity with minimal risks.
Commenting on his mission overseas, Ramaphosa said the government was looking into improving the ease of doing business in the country:
“We are making it easier to start a business, register a property, deal with construction permits, pay taxes and trade across borders. To promote greater efficiency, we are reducing the time it takes to grant licences and permits. We are working with business to ensure that the conditions attached to licences are not too onerous or costly. We have prioritised immigration reform to attract more skilled workers and to grow tourism.”
Ramaphosa welcomed the World Economic Forum improving South Africa's ranking in its 2019 Global Competitiveness Report, seeing the country climbing seven places since last year.
The president said that this was a 'noteworthy achievement' within the relatively short period of time the improvement occurred in.
Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!