President Cyril Ramaphosa has vowed to push forward with a second wave of economic reforms aimed at accelerating inclusive growth and revitalising South Africa’s state-owned enterprises (SOEs). Speaking during his annual State of the Nation Address (SONA), he highlighted the progress made so far and the urgent need to build on these efforts.
“We are steadily removing the obstacles to meaningful and faster growth,” Ramaphosa said. “The economic reforms that we are implementing through Operation Vulindlela have created a new sense of optimism and confidence in our economy.”
Key reforms have already improved the functioning of critical industries, creating new investment opportunities that are driving job creation.
But Ramaphosa stressed that deeper structural changes are needed.
“Working together with business, labour, and other social partners, we must now finish this work,” he urged. “Over the coming year, we will initiate a second wave of reform to unleash more rapid and inclusive growth.”
A major priority is fixing Eskom, Transnet, and other struggling SOEs. The government is repositioning these entities to deliver world-class infrastructure while fostering competition in sectors such as electricity generation, freight rail, and port terminals.
To improve governance and oversight, a new model for SOEs is in the works, ensuring that public ownership of strategic infrastructure remains intact while creating space for private investment to enhance service delivery.
“We continue with the fundamental reform of our state-owned enterprises to ensure that they can effectively fulfill their social and economic mandates,” Ramaphosa stated.
A dedicated SOE Reform Unit is being established to coordinate these efforts, ensuring a streamlined approach to restructuring.
With these reforms, Ramaphosa is aiming to create a more competitive and investor-friendly economy while maintaining essential public services. His message was clear: South Africa is ready to move forward with bold, decisive action.
President Cyril Ramaphosa has announced an ambitious plan to secure R100 billion in infrastructure financing by engaging local and international financial institutions and investors.
Speaking during his annual State of the Nation Address (SONA), Ramaphosa emphasised that large-scale infrastructure investment is key to accelerating economic growth and job creation.
“To create this virtuous cycle of investment, growth, and jobs, we must lift economic growth to above three percent,” he said.
To achieve this, the government is prioritising massive infrastructure investments while maintaining and upgrading existing assets.
A project preparation bid window has been launched to fast-track investment readiness, supported by revised public-private partnership regulations aimed at unlocking private sector expertise and funding.
Over the next three years, the government plans to invest more than R940 billion in infrastructure, including R375 billion from state-owned enterprises. This funding will be channeled into revitalizing roads and bridges, modernizing ports and airports, building dams, and strengthening power generation capacity.
“We are steadily removing the obstacles to meaningful and faster growth,” Ramaphosa said. “The economic reforms we are implementing through Operation Vulindlela have created a new sense of optimism and confidence in our economy.”
