Economic growth in South Africa has improved significantly since the 2008 recession, and government promises to continue facilitating this growth. At the Premier Business Awards held in Sandton, Johannesburg, Zuma highlighted that improving energy security is of critical importance to achieving this goal.
Continuing public investment in infrastructure to facilitate economic growth is key. “We will invest in the maintenance of the infrastructure, especially water, electricity and related infrastructure,” Zuma said, adding that energy security would be achieved by fast-tracking government’s “massive” build programmes.
Furthermore, new opportunities are being explored, such as the development of shale gas and nuclear energy, Zuma added.
In his speech, Zuma also focused on the business environment in South Africa, saying “We have over the past two decades of democracy laid the foundation for South Africa to be a better place to live in and do business.”
Cultivating business in South Africa remains a priority, Zuma said, cautioning that “more work must be done to improve investment prospects and to encourage youth employment in particular, while not neglecting older workers.”
Zuma argued that “the state has taken bold steps to diversify the economy and build our industrial base with a greater emphasis on labour-absorbing employment,” to further improve South Africa’s economic situation.
Zuma: SA energy security essential for economic growth
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