President Jacob Zuma has invited the Federation of Unions of South Africa (FEDUSA) General Secretary Dennis George to attend a pre-SONA 2017 Investor Briefing in Cape Town on Tuesday.

The briefing is expected to highlight investment opportunities for the private sector in the government’s plans of turning a stagnant economy around in order to stimulate growth and create jobs that will be announced by President Zuma on Thursday evening. FEDUSA has called on President Zuma to make inclusive economic growth, the lodestar of SONA 2017.

Last year FEDUSA ‘s hard work and participation in Team South Africa’s international road shows, led by National Treasury, that included meeting international investors and rating agencies in London, Boston, New York and South Africa, was vital in maintaining the country’s sovereign rating unchanged at investment grade.

George noted that the economic growth of only 1 percent last year, forecast to drop to zero point eight percent this year by the South African Reserve Bank, is a far cry from the National Development Plan’s target of a 5.4 percent growth in 2016 and a reduction in the unemployment rate to 20 percent in 2015 and 14 percent in 2014, respectively.

“We have missed our targets for various reasons and our employment rate has increased to 27.1 percent at the end of 2016. As NEDLAC social partners leaders, it is important for us to support the work of Team South Africa by working together,” George said.
“Our future is in our hands and it is vital for the social partners leaders to guide the process”.

 

Issued by FEDUSA