The second phase of the partnership between government and business aims to deliver economic growth of 3% by the end of the year, which business partners and President Cyril Ramaphosa and a senior government team committed to achieving in a meeting during the week of January 13 to 17, business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso has pointed out.

“The message from the President was clear – he wants to see an acceleration of delivery and that, ultimately, these efforts must result in more jobs, especially for young people,” she said.

The 3% growth target was a material ambition and that level of growth would lead to job creation and trigger a positive self-reinforcing sentiment that supported growth, she added.

“Continuous work is still needed to drive reforms and ensure we follow through to deliver the kind of growth we need. We must act rapidly if we are going to realise that ambition.

“We need to build additional electricity capacity by expanding the grid and adding another 4 000 MW this year. We need to boost the recovery of rail capacity to enable 193-million tons to move through our rail system from 152-million tons last year,” Mavuso illustrated.

The partnership’s efforts needed to consider the employment impact of different options and ensure that all opportunities were grasped to create jobs. This was the intended outcome of the reforms that would enable growth, she noted.

With growth comes expansion as businesses invest to take advantage of opportunities. Investment leads to increased economic capacity, which creates jobs at scale.

However, South Africa needed to get off the Financial Action Task Force grey list as it needed to unlock R100-billion of investment this year. The country must also continue to drive the recovery of the criminal justice system, and bolster the investigation and prosecution of complex white-collar crimes, Mavuso added.

“This year is our opportunity to tell the world that South Africa is back in business and worthy of investment attention. Last week was encouraging, as our engagements with the President and preparations for Davos demonstrated that our leaders are keenly focused on showcasing South Africa as a country that is making things happen.

“This year could be pivotal for us as a country. We are rebuilding, gaining traction and accelerating reform, while simultaneously making the case for South Africa Incorporated. The year ahead is filled with opportunities to deliver meaningful change for our country and our people,” Mavuso said.

The business case for South Africa is being set out this week at the World Economic Forum annual meetings, in Davos, Switzerland, where the government and business partners will be promoting the country's hosting of the G20 and B20 this year.

Government and business had also met during the week of January 13 to 17 to coordinate the agenda for Davos, ensuring that they work as a team.

“There was great alignment between us, and a clear view of the objectives,” she reported.