Cape Town – President Cyril Ramaphosa has declared that South Africa is undergoing a “fundamental transformation” to accelerate inclusive economic growth, driven by bold reforms in water, electricity, and logistics.
Speaking at the South Africa Night during the World Economic Forum (WEF) in Davos, Switzerland on Tuesday, Ramaphosa said these reforms are addressing long-standing challenges, boosting productivity, and attracting investment.
“South Africa is undergoing a fundamental transformation. We have introduced bold economic reforms to overcome persistent challenges and unlock the vast potential of our country and its people.
“These reforms have underpinned the country’s economic recovery in the wake of more than a decade of stagnant growth, state capture and the worst global pandemic in more than a century. These reforms are laying a firm foundation for sustained and accelerated growth into the future,” Ramaphosa said.
South Africa Night in Davos, Switzerland #wef25 https://t.co/C0WGlSHVyj
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) January 21, 2025
The president highlighted the Government of National Unity’s (GNU) role in fostering stability, progress, and partnership to grow an inclusive economy, create jobs, and build a capable state.
He noted that this collaborative approach has significantly improved business and investor confidence.
“While each party campaigned on different platforms, the Government of National Unity has agreed on a common programme to grow an inclusive economy, create jobs and build a capable state.
“Surveys have shown that South Africans have confidence in the Government of National Unity to take the country forward. It has also contributed to a marked improvement in business and investor confidence,” said Ramaphosa.
The President also pointed to partnerships between the government and social partners as vital to tackling issues like energy security, infrastructure gaps, corruption, and crime.
He described 2025 as a “momentous year” with South Africa becoming the first African nation to chair the G20, pledging to advocate for global solidarity, equality, and the well-being of the vulnerable.
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Compiled by Matthew Petersen
