Telecoms central to Ramaphosa’s reform efforts

A proposed South African stimulus package will include a set of economic reforms covering the mining, telecommunications, tourism and transport industries, the presidency said.

The economic stimulus package adopted by the nation’s cabinet is aimed at boosting economic activity and confidence in sectors affected by regulatory uncertainty, President Cyril Ramaphosa’s office said on Sunday in an e-mailed statement.

“The stimulus package will re-prioritise government spending, within the existing fiscal framework, toward activities that will stimulate economic activity,” according to the statement.

Ramaphosa presented highlights of the measures that will soon be made public to business and labour leaders during a consultative meeting in Pretoria on 14 September, his office said.

South Africa would need about R48-billion for a stimulus package proposed by the ANC to boost output, increase investment, create jobs and support small businesses, the Mail & Guardian reported last month, quoting finance minister Nhlanhla Nene.  — Reported by Eric Ombok, (c) 2018 Bloomberg LP