President Cyril Ramaphosa’s leadership has steered South Africa towards economic recovery despite facing challenges such as corruption and stagnant growth. The country has made notable progress, including creating over 1.2 million job opportunities, improving access to basic services, resuming operations on commuter rail corridors, increasing private investment in electricity generation, and recovering and returning R5.4 billion to the state. With ongoing partnerships and reforms, South Africa is poised for further growth and a brighter future.
Deputy President Paul Mashatile recently delivered opening remarks at the Global Investment Summit held virtually on June 14, 2023. The summit’s theme was “Adapting to a New Reality,” and its focus was on propelling the economy forward amidst the challenges faced during the COVID19 pandemic.
The South African Government and the nation’s organized business sector have embarked on a joint partnership initiative to promote inclusive economic growth and job creation in the country. The partnership aims to address the key challenges and capitalize on South Africa’s untapped potential.
The South African Department of Public Works and Infrastructure is contributing to the country’s economic recovery and job creation. For the 2023/24 financial year, the department has been allocated R8.782 billion, with R4.5 billion earmarked for infrastructure, property management, facilities, and asset management.