Cape Town – President Cyril Ramaphosa has declared that the 2024 Investing in African Mining Indaba will focus on unlocking the substantial potential of the mining sector for economic growth and job creation.
“This week’s Mining Indaba in Cape Town will showcase the enormous potential of the mining industry to drive economic growth and job creation. The actions underway to improve the logistics system will help us to unlock this potential, given that mining companies depend on the rail network and ports to compete in global markets.
“From the work already underway, we have shown that it is possible to overcome the barriers to growth by working together in partnership. We are building momentum and have begun to see the results,” said Ramaphosa in his weekly newsletter on Monday.
This week’s #MiningIndaba in Cape Town will showcase the enormous potential of the mining industry to drive economic growth and job creation. The actions underway to improve the logistics system will help us to unlock this potential, given that mining companies depend on the rail… pic.twitter.com/Gg2rO7nyv9
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) February 5, 2024
He mentioned ongoing efforts to overcome barriers to growth through partnerships and highlighted the recent launch of the first export shipment under the African Continental Free Trade Area (AfCFTA).
“South African companies have a great opportunity to take advantage of the AfCFTA by exporting their goods into the rest of the African continent. In order to take this great opportunity up, as a country we need to ensure that our products make it from the factory gate onto the ship and head towards their destinations with the least possible delay and at the lowest possible cost,” he said.The president discussed challenges faced by Transnet, which operates ports and rail lines, and outlined measures to improve efficiency, including the Freight Logistics Roadmap and the establishment of the National Logistics Crisis Committee and Corridor Recovery Teams.
“Working together with the private sector, we are turning the situation around, guided by the Freight Logistics Roadmap that was crafted by Transnet, government and social partners. The roadmap outlines a clear set of actions to stabilise and improve Transnet’s performance in the short term and to fundamentally reform the logistics system in the long term,” said Ramaphosa.
🎥 His Excellency President @CyrilRamaphosa is at the Cape Town International Convention Centre for this year’s #MiningIndaba and is received by @DMRE_ZA Minister @GwedeMantashe1 and Chair of the Investing in African Mining Indaba Mr Frans Baleni
This years Indaba is hosted… pic.twitter.com/7x7LruxdkP
— #SONA2024 | Presidency 🇿🇦 (@PresidencyZA) February 5, 2024
Short-term measures to address port congestion were also mentioned, along with long-term reforms to modernize the logistics system, introduce private sector investment, and foster competition.
The president emphasised that the reform process takes time but aims to create a competitive and efficient system for the future.
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Picture: X/@GovernmentZA
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Compiled by Betha Madhomu
