Ramaphosa Unveils R20bn Transformation Fund, Says Sa Economy Starving

President Cyril Ramaphosa says South Africa's economy has been held back from reaching its full potential. Speaking during his address, he reaffirms the government's commitment to working with businesses, labour unions, and social partners to drive structural reforms for inclusive growth and job creation.

To support black-owned and small businesses, Ramaphosa announces a R20 billion Transformation Fund that will be allocated annually for the next five years.

He also emphasises that women-owned businesses will have greater opportunities to compete for government tenders.

Energy Action Plan

Ramaphosa has commended the Energy Action Plan in dealing with power challenges in the country , saying the plan was effective in reducing the frequency of load shedding.