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Ramaphosa urges ANC to correct its ways as targets 5% growth

Deputy president says country should target 3% growth in 2018.

South African Deputy President Cyril Ramaphosa said the governing African National Congress must restore investor confidence and avoid populist policies in order to revive the struggling economy.

Bold, decisive action is needed to change South Africa’s growth trajectory and the government should target an expansion of 3% in 2018 and 5% by 2023, he said at an ANC event in Soweto, near Johannesburg on Monday. The country needs a “new deal” to accelerate radical economic transformation so that growth is more inclusive of the majority black population, the deputy president said.

Ramaphosa is seen as a frontrunner to succeed President Jacob Zuma as head of the ANC when the party meets for its elective conference from Dec. 16-20. His main rival for the post is Nkosazana Dlamini-Zuma, the president’s ex-wife and former chairwoman of the African Union Commission.

Allegations of state capture, a local term to describe the undue influence private interests allegedly wield over the government, has negatively impacted the country’s economy, Ramaphosa said. Zuma’s administration has been rocked by a series of scandals, including his relationship with the Gupta family, who are his friends and in business with one of his sons. Zuma and Guptas have denied any wrongdoing.

Zuma said in an interview with Johannesburg-based broadcaster ANN7 that he put in place many measures to avoid corruption.

“I have fought corruption,” Zuma said. “There is no executive that is captured.”

The term state capture is “political propaganda” and is an incorrect term, he said.

© 2017 Bloomberg

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When we hit the final JUNK NAIL and the foreign investors MUST sell off their bonds we will enter the dark ages here. THERE WILL BE NO 5% GROWTH. This is ALL ELECTIONEERING !!!!!!!!!!!!!!!!!! All to win an election and keep the ruling ignoramus’s in power and plundering!!

For once I agree with JZ. “State Capture” is an incorrect term. We should stop using euphemisms and describe things as they are. Let’s rather talk of “a criminal feeding frenzy by pigs desperate to get a snout in the trough before all the loot runs dry”.

Typical African political talk Cyril- why do’nt you stop circling the main problem and call a spade a spade, the corruption starts with JZ783 and includes all 4000 cadres in the upper echelon of the Anc , including you.
Just like Zim ,soldiers with tanks in the streets, no police visible ,Mugabe under house arrest, wo’nt resign. LOOKS like a coup ,walks like a coup…….
But no we are told it is not a coup . you moenas are the geniuses and the rest of the world is thick.

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