Speaking during the State of the Nation Address in the Cape Town City Hall, President Cyril Ramaphosa used the 30th anniversary of the adoption of South Africa’s Constitution in 1996 to the nation about that iconic women’s march of 1956, which turned the seat of unjust authority to a platform of protest.
President Ramaphosa also mentioned the 1976 youth protest action, which turned the course of struggle. After mentioning the presence of one of the stalwarts of struggle for freedom, Ms Sophia de Bruyn, he asked the joint seating of Parliament to stand as a gesture of honour to that outstanding South African.
Reflecting on the state of the nation, President Ramaphosa gave some reasons for believing that the country is stronger that it was a year ago. “Our economy is growing again, and this growth is gathering pace. While we have experienced four consecutive quarters of gross domestic product growth, we know that it has to grow much faster to meet our social and economic challenges,” he said.
In addition, the government has achieved two consecutive primary budget surpluses. Meanwhile, the country’s credit rating has improved, interest rates are coming down, and inflation is at its lowest level in 20 years. “We are on a clear path to stabilising our national debt. The rand has strengthened against the dollar,” the President noted.
In addition, the Johannesburg Stock Exchange has performed exceptionally well over the past year. This growth reflects broader economic recovery, investor confidence and increasing interest in South African equities, President Ramaphosa said. What is more, South Arica’s borrowing costs have declined.
“Through Operation Vulindlela, we have made significant progress in accelerating economic reform and opening the way for investment and competition. We have brought an end to loadshedding and built a more dynamic and resilient energy system.
“We have made progress in improving the performance of our ports and freight rail lines, steadily increasing the volume of goods that we move in and out of our country. We have restored our passenger rail system, as more and more commuters are now able to travel to work on new locally-made trains – significantly reducing their transport costs. We are investing across our country in roads, bridges, rail lines, ports, farms, wind and solar farms.”
The President also noted that the government has created over 2.5 million opportunities through the Presidential Employment Stimulus, mainly for young people and women. The Expanded Public Works and the Community Work programmes continue to offer job opportunities to many throughout our country.
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