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Real Economy News in Real Time
R/€ = 16.16 Change: 0.03
R/$ = 14.42 Change: 0.06
Au 1284.78 $/oz Change: 10.09
Pt 801.68 $/oz Change: 0.78
 
 
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Cabinet to be restructured to benefit economy – Ramaphosa

15th May 2019 BY: African News Agency
President Cyril Ramaphosa
President Cyril Ramaphosa

President Cyril Ramaphosa on Wednesday assured a gathering of investors in Johannesburg that his Cabinet will be restructured to bolster plans to grow South Africa's economy.

"The structure of Cabinet in the sixth administration will enable government to focus on generating higher economic growth, creating more jobs and serving the people of South Africa better," read a statement from the presidency following Ramaphosa's interaction at the Goldman Sachs conference.

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Ramaphosa told executives at the gathering that the incoming administration would fast-track the implementation of the National Development Plan, South Africa's development blueprint.

The president also addressed South Africa's beleaguered State-owned companies, specifically Eskom. The utility's operational and financial woes have led to the country being plunged into darkness several times.

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"President Ramaphosa acknowledged that weaknesses existed within State-owned enterprises but said work had begun to strengthen governance and the financial standing of State-owned enterprises including Eskom." 

EDITED BY: African News Agency
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