Johannesburg: Despite winning the African National Congress (ANC) December elective conference with a small margin, Cyril Ramaphosa should priorities transformation as a way to revive the economy.
The South African economy has experienced decline since the global financial meltdown of 2008, whereby it was the time that most countries were affected especially on growth.
In 2009, Jacob Zuma became the country’s fourth president and started his rule as leader of the government, he was believed to be a “mytra” of the poor especially by trade Unions such as Cosatu.
The Congress of the South African Trade Unions( Cosuta)and other alliance partners were critical of Thabo Mbeki ‘s economic policies of termed “project 1996” (Asgisa) Accelerated and Shared Growth Initiative For South Africa, after abolishing (RDP)Reconstruction And Development.
The abolishment of RDP bear the fruits as it focused much on infrastructure development, and also helped grow the economy but according to Statistics South Africa that did not create enough job opportunities.
After Thabo Mbeki’s recall in 2008 and Jacob Zuma acceding to the presidency in 2009 saw the development of (NDP) National Development Plan which is vision 2030.
The Zuma administration suffered a lot and economic decline generated by trust deficit between government and business.
This saw lack of oversite from the government and also maladministration, corruption, nepotism and Zuma’s failure to tackle it or show commitment.
The state institutions have been paralyzed and investor has gone down because of Zuma’s lack of clear policy direction, especially on mining and other key sectors.
With the new compromised cabinet in place, Ramaphosa key focus should be to transform the economy particularly key sectors such as mining and agriculture.
South Africa should become industrialize; firstly Ramaphosa needs to reopen the industries closed immediately after 1994 when Nelson Mandela became the president.
In the mining sector there should major shift, the companies must refine the mineral resource inside the country rather exporting unfinished exploits.
The other area of concern should be manufacturing and engineering whereby the sector should be capacitated to compete in the global stages.
South Africa needs to create its own car engine that will be locally owned and proudly owned and seek the market in the African continent.
Lastly, Ramaphosa should enable major black entrepreneurs with the support to become black industrialists, especially in the townships and rural areas.
The need to transform the economic policy to accommodate the black majority that are facing poverty, unemployment will be the first step in the right direction.