Ramaphosa says South Africa needs fundamental change to tackle economic woes

PRESIDENT Cyril Ramaphosa said on Thursday his country needed fundamental change to revive economic growth, by tackling corruption and the endemic poverty, inequality and unemployment deepened by chronic power cuts and COVID-19.

Addressing the many troubles that have plagued Africa’s most industrialised nation in the past decade in his State of the Nation speech, Ramaphosa singled out its unreliable power supply as one of the biggest threats to long-term prosperity.

The president said there was a need to address the immediate crisis but also create conditions for sustained growth, via a programme of infrastructure works, increased local production and job-creation – as well as developing the country’s fledgling cannabis industry.

“The present situation …is unacceptable,” he said, promising to prioritise improving power generation. “Fundamental (economic) reforms are needed.”

To boost growth, the president said South Africa will start auctioning its high frequency digital spectrum within a month, seen as critical