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7 key quotes on the economy in Ramaphosa's State of the Nation Address

Feb 07 2019 22:37
South African President Cyril Ramaphosa arrives to

South African President Cyril Ramaphosa arrives to the parliament in Cape Town for the 2019 State of the Nation address (NASIEF MANIE/AFP/Getty Images)

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President Cyril Ramaphosa delivered an economic-focused State of the Nation Address in Parliament on Thursday evening.

Here are seven of his key quotes: 

1. On splitting up Eskom 

"To bring credibility to the turnaround and to position South Africa’s power sector for the future, we shall immediately embark on a process of establishing three separate entities – Generation, Transmission and Distribution – under Eskom Holdings."

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2. On hosting another Investment Conference

"Based on our experiences over the past year, and to build on the momentum achieved, we will host the South Africa Investment Conference again this year."

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3. On the major Brulpadda oil and gas find 

"This could well be a game-changer for our country and will have significant consequences for our country’s energy security and the development of this industry." 

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4. On investor certainty 

"Last year, a number of stakeholders raised their concerns about policy uncertainty and inconsistency. We have addressed these concerns and we continue to engage those stakeholders who raise concerns about our policy direction." 

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5. On state-owned enterprises

"Where SOEs are not able to raise sufficient financing from banks, from capital markets, from development finance institutions or from the fiscus, we will need to explore other mechanisms, such as strategic equity partnerships or selling off non-strategic assets."

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6. On creating jobs 

"Our greatest challenge is to create jobs for the unemployed of today, while preparing workers for the jobs of tomorrow."

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7. On the NHI 

"By applying the principle of social solidarity and cross-subsidisation, we aim to reduce inequality in access to health care."

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eskom  |  sona2019  |  cyril rama­phosa


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