SA must reduce cost of doing business to attract investment – Ramaphosa
JOHANNESBURG – South Africa must make it cheaper and easier to do business in the country in order to attract the investment necessary to build the economy at a faster pace and create jobs, President Cyril Ramaphosa said on Monday.
In the latest edition of a newly-launched weekly column, Ramaphosa celebrated that the country had climbed seven places in the World Economic Forum’s latest Global Competitiveness Report released last week, calling it a “noteworthy achievement within a relatively short period of time”.
Ramaphosa, who has been president since his predecessor Jacob Zuma was forced to step down ahead of schedule in February 2018, faces the daunting challenge of spurring growth in an economy that expanded by less than one percent per year over the past decade, while unemployment has risen to 29 percent.
“One of our tasks is to grow our economy by reducing the cost of doing business,” said the president, who is currently in London to address a Financial Times Africa summit.
“As we work to create jobs and employment opportunities, we are also working to reduce the cost of living. This explains our efforts to bring down the cost of electricity, data, public transport, health care and education.”
Source: iol.co.za
