Next Phase of South Africa’s Business-Government Pact Eyes 3% Growth

South Africa's government and business partnership, entering its second phase, aims to revitalize the economy, which has barely grown 1% annually over the past decade.

President Cyril Ramaphosa highlighted the need for reforms, improving freight logistics, boosting grid capacity, and tackling crime to foster growth.

Business Unity South Africa (BUSA) predicts GDP growth could reach 3% by 2025, creating 1 million jobs by 2030.

Phase 2 plans to unlock R23 billion for energy, expand renewable capacity, and attract R28 billion for rail infrastructure. Political stability, investor confidence, and public-private partnerships will drive these efforts forward.