Ramaphosa’s ‘new deal’ aims for three percent economic growth by next year


Deputy President Cyril Ramaphosa is ramping up his campaign for party president by unveiling his plan to boost economic growth in the country.

The deputy president addressed an African National Congress event on Monday evening, where he revealed what he has called a “new deal”.

Ramaphosa told the gathering that boldness was needed by government in order to transform the economy and that is what he believes his “new deal” will bring.

“We need to reassert the independence of institutions which support democracy, fight corruption and safeguard the welfare of our nation. We need to safeguard these institutions and not harm them,” he told the gathering.

He added that the “new deal” would include measures to restore investor confidence and lead to job creation by partnering with the private sector.

Aside from promising to strengthen accountability at state institutions, the new deal also held promises involving reviving the manufacturing sector, free higher education for the poor and support for small and medium enterprises.

Ramaphosa said that he believed this new deal could grow the country’s economy by three percent next year and by five percent by 2023, as well as create one million jobs in the next five years.

The deputy president also took the time to speak out against state capture, while at the same time, President Jacob Zuma participated in an interview with television news agency ANN7, where he admitted to not understanding what the term “state capture” meant and then immediately dismissed it as a fabricated political tool.

Zuma is set to step down as president of the ruling African National Congress at its elective conference coming up in December.
Ramaphosa is believed to be one of the front-runners to succeed him.

Currently, the president’s former wife and former head of the African Union, Nkosazana Dlamini-Zuma, is believed to be Ramaphosa’s main challenger, although a number of top members of the party have also thrown their hats in the ring, including National Executive Committee member and Parliamentarian, Lindiwe Sisulu.