Deputy President Cyril Ramaphosa says government remains committed to creating decent work on a scale that makes a decisive impact on poverty and inequality.
“That requires far higher levels of economic growth and sustained investment by both the public and private sectors in productive economic activity,” he said on Tuesday.
Speaking at the National Economic Development and Labour Council (Nedlac) Labour School’s Roodevallei Conference Centre in Pretoria on Tuesday, Deputy President Ramaphosa said 2018 must be used to restore the confidence of South Africans in a shared vision for radical social and economic transformation.
“We must convince those who have not yet understood that we cannot grow and sustain an economy that excludes black people, the majority of whom are African and female.
“Radical social and economic transformation is about creating a South Africa where all its citizens, black and white, share equitably in the country’s economy,” Deputy President Ramaphosa said.
Deputy President Ramaphosa said work is underway to expand the mandate of the competition authorities to promote competition and eliminate monopoly control.
“Through this work, and by using more effectively government procurement and licensing, we must build an army of emerging black businesses. We need to develop sustainable models of empowerment in which workers can have a financial stake and a meaningful voice in companies,” he said.
According to Deputy President Ramaphosa, young South Africans are disproportionately affected by poverty and unemployment.
“Many of them lack the requisite skills to meet the demands of a modern and diversified economy. Many of those that have an education and skills continue to face marginalisation in the economy, since many employers prefer experienced workers.
“We need to agree on a social compact that will absorb many of our young people in skills training programmes, internships and employment opportunities.
“We believe that the implementation of free higher education for the children of the poor and working class will also do much to accelerate the inclusion of the majority of poor black young South Africans in the economy,” he said.
Deputy President Ramaphosa said the agreement by social partners on the implementation of a National Minimum Wage will help reduce income inequality and contribute to a more cohesive society.
“It will immediately change the lives of millions of low paid workers and is a significant step towards achieving a living wage for all South African workers,” he said.
Source – SAnews.gov.za