ANC’s manifesto is a growth plan

6 March 2024

The ANC notes the latest release from Statistics South Africa which indicates that the economy grew in real terms by 0,6% in 2023. The fact that gross fixed capital formation increased by 4,2% during 2023 is testament to ANC President Cyril Ramaphosa's ongoing emphasis on the need to promote investment in the South African economy.

Through structural reforms, investment conferences, and close, ongoing work with business and labour constituencies, investment levels are steadily being raised. Investment in South Africa's present and future is the key to unlocking higher levels of economic growth and job creation. Sectors that contributed to growth during 2023 were finance, real estate, and business services; transport, storage and communication; personal services and manufacturing. This is in large part due to the ongoing economic programme of the ANC-led government, which has prioritised interventions to promote growth and job creation in the South African economy.

In the fourth quarter of 2023, improved electricity output which had a positive impact on the manufacturing sector, increased levels of mining and growth in tourism numbers played an important role in lifting economic activity and ensured that South Africa's annual growth remained positive.

Through our election manifesto, the ANC is working to secure a renewed mandate from South Africa' s people to accelerate our economic growth and job creation efforts. It is only through a sustained period of economic growth that we will be able to transform our economy, reduce unemployment and ensure a better life for all.

In particular, through the determined implementation of the country's Energy Action Plan, we aim to bring an end to the era of loadshedding as it impacts negatively on peoples' lives and slows down economic growth and investment. The ANC is determined to turn this situation around and restore the energy security that is required to grow our economy and accelerate employment creation, especially for young people.

We will also expedite the implementation of the Freight Logistics Roadmap to ensure the improved performance of the rail and ports logistics sectors. In addition to our plan to overcoming loadshedding and improving the efficiency of rail and ports, our election manifesto lists six priority areas which will all contribute to accelerated job creation and the creation of a fairer, more inclusive South African economy:

1. A Jobs Plan to put South Africans to Work
2. Industrialisation, infrastructure to grow inclusive economy
3. Tackling Cost of Living, provide Income support
4. Advance social transformation and Invest in People
5. Defend and Advance Freedom and Democracy
6. Build a better Africa and World

Issued by Mahlengi Bhengu-Motsiri, National Spokesperson, ANC, 6 March 2024