IRR: The President must talk growth in his address today
There is one simple message President Cyril Ramaphosa must give the nation today and that is that the country is aiming for economic growth.
So says IRR campaign manager Makone Maja.
Mr Ramaphosa must appreciate that South Africans are waiting expectantly to hear what he has to say, and that he has a precious opportunity to address their priority concerns.
Maja says: “It is likely that this is the most support an incoming government has had for some time, partly because of the formation of the GNU as well confidence arising from the country experiencing the longest period without load-shedding since 2021. President Ramaphosa must not waste this opportunity − he needs to tell South Africans how he plans to achieve three key things: grow the economy; bring jobs; and make the country safe.
Citing former finance minister Tito Mboweni’s comment that the country could not grow on social grants and welfare, Maja argues: “True growth that is inclusive, sustainable and enables all to flourish requires investment. To drive investment, the protection of property rights must be fully restored. This protection is against expropriation without compensation by the state, as well as against crime, which costs companies and individuals billions in losses every year.”
According to Maja, when investors feel that South Africa is a place they can invest in, job creation will follow.
“Jobs beget jobs. This is the knock-on effect the President needs to stimulate to widen economic participation, draw more people into the economy and end economic exclusion.”
Maja says the three key priorities are not the only important items that need to be addressed by the President, but are the foundational elements that form the bedrock of economy prosperity.
“While the three priority items are simple, they will not be easy to achieve,” Maja acknowledges, noting that the GNU “faces many internal and external threats”, and is operating in an environment in which “economic pressures have mounted enormously on South Africans”.
Maja concludes that policymakers should consult the IRR’s Blueprint for Growth paper, which contains policy alternatives for growth, job creation and creating a safer environment in South Africa.
It can found here.
Maja warns: “The enthusiasm of South Africans will not on its own sustain hope in the GNU. Rhetoric must be accompanied by decisive action to ensure growth that is investor-friendly, creates jobs, and is economically inclusive.”
Media contact: Makone Maja, IRR Campaign Manager Tel: 079 418 6676 Email: makone@irr.org.za
Media enquiries: Michael Morris Tel: 066 302 1968 Email: michael@irr.org.za