By Thebe Mabanga
President Cyril Ramaphosa unveiled what he described as a bold and ambitious economic plan, albeit one that sounded familiar, during his State of the Nation Address (SONA) in Cape Town on Thursday.
The plan targets R2 trillion in new investment over the next five years and R3.5 billion in support for small businesses, which Ramaphosa said could generate up to three million jobs.
The President struck an upbeat tone about the economy’s recent performance, while acknowledging persistent weaknesses.
“Our economy is growing again, and this growth is gathering pace. While we have experienced four consecutive quarters of GDP growth, we know that it has to grow much faster to meet our social and economic challenges,” he said.
Ramaphosa cited South Africa’s first credit rating upgrade in 16 years last year as evidence of progress. He also pointed to inflation at its lowest level in more than two
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