President Cyril Ramaphosa has described South Africa’s economic challenges as an “emergency” and unveiled a bold 10-point plan to address poverty, unemployment, and the high cost of living.
Speaking at the ANC’s special National Executive Committee (NEC) meeting held at the Birchwood Hotel in Ekurhuleni, Ramaphosa said the economic pain felt by ordinary South Africans is “unacceptable” and demands urgent, coordinated action.
“We must accelerate the pace and massively scale up our efforts. We will focus on implementation and delivery,” said the ANC president.
The plan forms part of the ANC’s response to worsening economic indicators and builds on the Medium Term Development Plan and the party’s 2024 election manifesto.
It also aligns with the National Development Plan and the broader goals of the seventh administration.
The 10 Key Economic Interventions
- Electricity and Infrastructure Investment
- Introduce preferential electricity tariffs for key industries like ferrochrome, manganese, and steel
- Accelerate the Transmission Development Plan, adding 14 500km of new transmission lines
- Logistics Sector Recovery
- Fast-track Transnet’s recovery
- Encourage private sector participation in rail and ports
- Rebuild the Chrome and Manganese Industries
- Finalise export tariffs and introduce defensive duties on dumped imports
- Expand downstream processing for batteries and alloys
- Boost State Capacity for Infrastructure Projects
- Professionalise project management
- Establish a cross-government coordination unit and ring-fence strategic projects
- Drive Local Economic Development
- Invest in townships, rural areas, and small towns
- Link local infrastructure spending to industrial policy
- Labour Activation and Public Employment
- Scale up the Presidential Employment Stimulus
- Focus on reskilling, artisan training, and apprenticeships
- SMME Support and Development Finance Reform
- Expand market access and concessional finance for small businesses
- Transform DFIs into catalytic investors
- Provincial Economic Growth Beyond Major Cities
- Revitalise industrial parks and align with special economic zones
- Prioritise labour-intensive sectors like agro-processing and textiles
- Trade Diversification and Continental Integration
- Deepen engagement with the African Continental Free Trade Area (AfCFTA).
- Launch an industrial support package for sectors hit by tariffs
- Budget Coordination and Development Finance
- Align fiscal, monetary, trade, and industrial policies
- Mobilise pension funds and DFIs for infrastructure investment
Urgency and Governance at the Centre
Ramaphosa said the NEC also resolved to create an Economic War Room in the Presidency to oversee implementation and track progress through published scorecards.
He emphasised that professionalism, merit-based appointments, and good governance would be non-negotiable in delivering results.
“The impact of load shedding, poor logistics, and sluggish investment is still being felt. But we are moving with urgency to shift this trajectory,” said Ramaphosa.
Persistent Struggles, Renewed Focus
Despite previous economic reforms and infrastructure investments – including a R1 trillion budgeted commitment – South Africa continues to battle low growth, high unemployment, and social instability due to the cost of living crisis.
The 10-point plan signals a pivot towards delivery-focused economic recovery, rooted in state capability, sectoral support, and inclusive development.
