Growing the economy and jobs
Government’s biggest immediate priority is to ensure that South Africa emerges from the pandemic with an economy that creates more jobs and provides more opportunities for those who have been excluded, especially women and young people.
Our intent is to leave no one behind.
A broad range of programmes and policies have been put in place to support the growth of small businesses, develop infrastructure for faster economic growth, encourage investment from inside and outside of South Africa, and more. These measures will enable businesses to grow and create jobs alongside expanded public employment and social protection.
We have given ourselves 100 days to finalise a comprehensive social compact to grow our economy, create jobs and combat hunger.
Let us forge a new consensus to confront a new reality, a consensus that unites us behind our shared determination to reform our economy and rebuild our institutions.
President Cyril Ramaphosa
SONA 2022 HIGHLIGHTS
- The new red tape unit in the Presidency will drive regulatory reforms to enable growth in the small business and informal sector.
- A new, redesigned loan guarantee scheme will make it easier for small businesses to get finance.
- The finalisation of the mining exploration strategy will attract investors into mining the types of minerals needed in the new global economy.
- The fourth South Africa Investment Conference will be held on 24 March 2022.
- Transnet will start providing third-party private operators with access to its freight network by April 2022.
- PRASA is rehabilitating its passenger rail network in 10 priority corridors.
- Private-public partnerships will be in place at the ports of Durban and Ngqura by October 2022.
- Eskom has established a separate transmission subsidiary, and is on track to complete its unbundling by December 2022.
- Amendments to electricity legislation will allow for a competitive electricity market.
- Communications regulator, ICASA, will begin the auction of high-frequency communications spectrum in March 2022.
- Regulatory processes are being streamlined so that the cannabis and hemp industry can grow.
- A revitalised National Youth Service will recruit its first cohort of 50 000 young people during 2022.
Progress since SONA 2021
Over 850 000 employment and livelihood support opportunities created through the Presidential Employment Stimulus
More than 500 000 young people are employed in schools nationwide
Over 100 000 small-scale farmers supported to expand production
R776 billion in investment commitments over the first three SA Investment Conferences
Increase in investments in Special Economic Zones in one year from R18 billion to R22 billion
The Hydrogen Society Roadmap was launched on 12 February 2022.
Communications regulator, Icasa has approved six mobile companies for the March 2022 spectrum auction.
Migration to digital terrestrial television and analogue switch-off will be completed on 31 March 2022.