Cape Town – Finance Minister Enoch Godongwana has reiterated the country’s commitment to structural reforms aimed at promoting economic growth and competitiveness.
Speaking at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Godongwana outlined that these reforms, driven by Operation Vulindlela, focus on areas such as electricity, infrastructure, water, and logistics.
Operation Vulindlela is a joint initiative of the Presidency and National Treasury aimed at accelerating the implementation of reforms and supporting economic recovery.
The objectives include stabilising electricity supply, improving digital communications, ensuring a sustainable water supply, enhancing freight transport efficiency, and creating a visa regime to attract skills and boost tourism.
Godongwana highlighted ongoing efforts to address challenges in the energy and logistics sectors, emphasising the importance of structural reforms for medium-term growth prospects.
“There are a number of things we are doing to deal with structural reforms. One of the perennial problems we’ve had has been on the energy front. Massive structural reforms… are dealing with that question.
“A new challenge has been the logistics sector, where we are investing a lot in it. We have been trying to change the skills composition to the extent that we don’t have and we have provided an environment where we can import skills with ease.
“So there are lot of structural reforms that we have engaged in in order to make sure that we can grow the economy and be competitive,” Godongwana told the panel.
The reforms specifically target entities like Eskom and Transnet, aiming to resolve immediate crises and address underlying structural issues.
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Compiled by Betha Madhomu
