economy
economy

The African National Congress (ANC) Treasurer General Zweli Mkhize has called for structural changes to realize the much needed growth for South Africa.

He made these remarks at the Progressive Business Forum (PBF) discussion on Sunday on the sidelines of the 54th ANC national conference.

Mkhize said there should be diversification in the economy instead of relying mostly on commodities, noting automobiles and manufacturing should be promoted to boost the economy.

“We hope to see how we bring more investment, growth and whole broad sense of synergies of different sectors so that we can stimulate economic knock-on effect. We have to help South African industries create more jobs.”

Mkhize said South African companies should have resilience and expand to other African companies. “There should be more players with best quality service to take the economy forward. It should be demonstrated to the neglected aspects of the country’s economy.”

South African Minister of Trade and Industry, Rob Davies, said they have supported 70 black industrialists to grow their companies.

They want to assist 100 black industrialists by March 2018 with incentives in ensuring the previously marginalized are integrated into the mainstream economy. He also said localization is now in the legislation.

He said they have realized that there is infrastructural deficit in the continent, lack of industrial diversification and some cross-border tariffs which affect trade. Enditem

Source: Xinhua/NewsGhana.com.gh

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