Cyril Ramaphosa President Cyril Ramaphosa.Picture: GCIS
President Cyril Ramaphosa told delegates at the 6th South African Investment Conference on Tuesday that he plans to raise R2-trillion in new fixed investment over the next three years. Or five years, depending on which articles you read on the presidency website. Peter Bruce argues in this Podcasts from the Edge monologue that Ramaphosa deliberately sets himself soft targets — targets he knows he can reach. And R2-trillion doesn’t come close to the 25% of GDP in fixed investment per year that the economy needs to grow fast enough to make a real dent in unemployment. So let’s not get too excited.