State of the Nation Address 2022

State of the Nation Address 2022

Leave No One Behind Leave No One Behind

Cutting red tape

Businesses play a critical role in improving a country’s economy. Costly and complicated regulations prevent companies from growing and creating jobs. By simplifying business regulations and compliance, we are working to ensure that companies and entrepreneurs can focus on growth, innovation and job creation.

We have appointed a dedicated team in the Presidency to work on improving the business environment. This Red Tape Unit will identify priority interventions for the year ahead. It will also work with other departments and agencies to unblock specific obstacles to investment and business growth.

  • A key priority is to ensure government departments pay suppliers within 30 days.
  • The time to process VAT refunds has been reduced from 15 weeks to 4 to 5 weeks.
  • The corporate income tax audit process has been reduced from 32 weeks to 17 weeks.

We are going to support massive growth in local production and make South African exports much more competitive. A vital part of growing our industrialisation efforts are the sectoral master plans, which bring all partners together to agree on specific measures to improve productivity, investment and competitiveness.

President Cyril Ramaphosa, SONA 2022

Stay up to date

Get a weekly update on the most pressing issues that interest and affect South Africans – straight from the desk of the President.

Click here to subscribe