Discovery CEO: Govt and business must shift focus from reform to growth
Discovery CEO Adrian Gore says South Africa needs at least 3% economic growth to create jobs, as President Cyril Ramaphosa urges business investment and continued reform.
Discovery CEO Adrian Gore says South Africa must achieve at least 3% economic growth to create jobs and reduce unemployment.
Speaking at the launch of phase three of the government-business partnership in Johannesburg, Gore said progress has been made in ending load-shedding, improving logistics and restoring investor confidence, but growth remains too slow.
He added that the government and business must now shift their focus from reform to growth.
“The potential of our country is remarkable. Our industries, our companies have tremendous potential to grow. Mining is a geological superpower. It's a leader in platinum group metals. It's got an incredible market share across many different commodities. It's massive in its contribution to GDP and employs a huge number of people.
“Agriculture is remarkable as well. It really is a global export platform.”
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Speaking at the same event, President Cyril Ramaphosa urged businesses to increase investment as the government continues with economic reforms aimed at boosting growth and creating jobs.
Ramaphosa said the government must provide policy certainty, efficient regulation, reliable infrastructure and capable institutions.
This, while businesses must expand production, develop local suppliers, open new markets and create employment.
“We must improve the ease of doing business while we protect workers, communities, and the environment,” Ramaphosa said.
“We must build a professional and ethical public service. Above all, we must act with urgency. South Africans want to see real growth. They need to experience progress in the present.”
