President Cyril Ramaphosa emphasises empowerment of women in business
President Cyril Ramaphosa emphasised the seriousness of the empowerment of women in inclusive economic growth during the State of the Nation Address (Sona) on Thursday night.
Tracking back to his past address in June last year and announcing the way forward on matters of major concern in South Africa, President Ramaphosa introduced SheTradesZA platform aimed at assisting women-owned businesses to participate in global value chains and markets.
President Ramaphosa also outlined that the Industrial Development Corporation is aiming to increase business funding for women and expand market for small businesses.
Over the next five years, the Industrial Development Corporation is targeting R10 billion of own and partner funding for women empowered businesses. To create a larger market for small businesses, we plan to designate 1,000 locally produced products that must be procured from SMMEs.— President Cyril Ramaphosa
Ramaphosa also outlined in his address that South Africa Investment Conference coming up in November. It will trackback previous commitments and prioritise new investments.
We will hold our third South Africa Investment Conference in November to review the implementation of previous commitments and to generate new investment into our economy. At the second South Africa Investment Conference last year, over 70 companies made investment commitments of R364 billion in industries as diverse as advanced manufacturing, agro-processing, infrastructure, mining, services, tourism and hospitality. In the first two years of our ambitious investment drive, we have raised a total of R664 billion in investment commitments, which is more than half of our five-year target of R1.2 trillion.— President Cyril Ramaphosa
These investments into the country are said to be having a real impact.