Ramaphosa to unveil details of #StimulusPackage
IOL / 21 SEPTEMBER 2018 - 09:00 / MAYIBONGWE MAQHINA
Johannesburg - President Cyril Ramaphosa is expected on Friday to unveil the economic recovery plan two days after the Cabinet approved it, Communications Minister Nomvula Mokonyane said yesterday
Speaking at a post-Cabinet briefing, Mokonyane would not delve into details of the stimulus package when asked to provide a broad outline.
SA President Cyril Ramaphosa File picture: African News Agency (ANA)
But the minister said the key drivers of the economy were tourism, manufacturing and infrastructure development as well as the easing of doing business in South Africa, especially with regard to visa regulations.
“The detail, we have agreed, will be presented before yourselves, the people of South Africa and the world, in a media briefing,” she said about Ramaphosa’s presentation.
“Tomorrow (today) we will also be sharing processes towards engagements, consultation and endorsements and input that has come from different sectors that are critical in growing the economy of South Africa,” Mokonyane said in reference to the upcoming jobs and investment summits.
Ramaphosa said in the build-up to his announcement that he had been meeting with chief executives, organised business and organised labour at Nedlac.
Mokonyane also confirmed that the Mining Charter was approved at their Wednesday meeting.
Mineral Resources Minister Gwede Mantashe in June released a draft charter for public comment after consultation with social partners and the mining industry.
The department was interdicted when then minister Mosebenzi Zwane pushed for the publishing of the controversial charter in a Government Gazette last year.
The draft charter provides for mining companies to increase black economic empowerment ownership to 30% and for black South Africans to constitute 50% of board members 20% of whom should be black women.
Mokonyane also said Mantashe has withdrawn the Mineral and Petroleum Resources Development Amendment Bill, which has been in the legislative process for years in Parliament.
He is expected to focus on the areas of gas and oil “which is something that he will then bring before Cabinet”.
The bill and the mining charter caused uncertainty in the mining sector. This prompted Mantashe recently to indicate that he would seek the Cabinet's approval to withdraw the bill, which provided for mining companies exporting minerals to apply for written consent from the mineral resources minister, among others.
Mokonyane said Mantashe’s intervention was informed by understanding within the mining industry as to what would help to sustain the sector and reposition the country.
“We all support the intervention and approach that minister Mantashe has presented,” she said.
Mokonyane also said the Cabinet received a joint report from the Home Affairs and Tourism departments on a number of visa-related reforms that will make it easier for tourists, business people and academics to come to South Africa.
“The reforms include amendments to the regulations applying to foreign minors travelling to South Africa, which will be gazetted in October. Negotiations on visa waivers and relaxation of visa requirements for certain countries are also being finalised,” she said
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