To eliminate poverty and reduce inequality, South Africa has to raise levels of employment and, through productivity and growth, the earnings of working people.
South Africa needs faster growth and more inclusive growth. Key elements of this strategy include raising exports, improving skills development, lowering the cost of living for the poor, investing in competitive infrastructure, reducing the regulatory burden on small businesses, facilitating private investment and improving the performance of the labour market to reduce tension and ease access to young, unskilled work seekers.
Only through effective partnerships across society can a virtuous cycle of rising confidence, rising investment, higher employment, rising productivity and income be generated.
South Africa requires both a capable and developmental state, able to act to redress historical inequities and a vibrant and thriving private sector able to invest, employ people and penetrate global markets.