Poverty, unemployment ‘unacceptable’ – Ramaphosa unveils R1 trillion 10-point growth plan

Johannesburg

Cape Town – ANC President Cyril Ramaphosa has described the ongoing impact of poverty, unemployment, and the high cost of living as “unacceptable” and unveiled a 10-point plan to stimulate economic growth and job creation.

The plan was presented at a special ANC National Executive Committee (NEC) meeting in Ekurhuleni on Monday, aimed at accelerating inclusive growth, reducing inequality, and building a capable state.

“The NEC reaffirmed our commitment to broad-based black economic empowerment to ensure that we correct the injustices of our past and end the inequality of the present moment,” Ramaphosa said.

He added: “In undertaking this work, we are not seeking to start from scratch.

“We have made progress over the last few years in advancing economic restructuring and transformation, in improving our capacity to increase infrastructure investment, for which we have budgeted R1 trillion, and in using public programmes to support employment and livelihoods.”

Ramaphosa said the plan aligns with the ANC’s 2022 National Conference resolutions, the 2024 election manifesto, and the government’s Medium Term Development Plan.

It focuses on broad-based black economic empowerment, infrastructure investment (R1 trillion budgeted), energy security, and improvements in logistics and public programs supporting employment.

While progress has been made in areas like electricity generation, Transnet’s performance, and economic restructuring, Ramaphosa acknowledged that these gains have yet to significantly impact growth, employment, and the daily lives of South Africans.

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