South Africa’s new coalition government, formed after inconclusive elections, must speed up reforms to boost business and attract investment, President Cyril Ramaphosa stated. The coalition, comprising ten political parties, aims to drive rapid, inclusive, and sustainable economic growth. Ramaphosa emphasized the importance of continuing structural reforms to enhance South Africa’s appeal as an investment destination. The government is finalizing the new cabinet, with an announcement expected soon.
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By Paul Richardson
South Africa’s newly formed government must accelerate the pace of reform to help improve the business environment and attract investment, President Cyril Ramaphosa said.
Ten political parties signed up to join a broad alliance that will govern the country, after elections last month failed to produce an outright winner. The members of the so-called government of national unity have agreed to prioritize rapid, inclusive and sustainable economic growth to create jobs.
“It will be critical that the government of national unity stays the course on the structural reform that is underway to improve the business operating environment and establish South Africa as an investment destination of choice,” Ramaphosa said in his weekly statement. “We will need to build on the progress that has already been made, while accelerating the pace of reform.”
Talks are under way between the members of the government on the creation of a new cabinet. An announcement on the formation of the executive is expected in the coming days, Ramaphosa’s African National Congress said at the weekend.
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