Investment
Government raised R1.5 trillion in new investment commitments through five South Africa Investment Conferences, of which over R500 billion has already flowed into the economy.
Support for the Mining Sector
To support growth in the mining sector, we are moving ahead with the modernisation of our mining rights licensing system and are launching an exploration fund to support emerging miners and exploit new mineral deposits. Through this, mining, which was the bedrock on which the South African economy was built, will once again become a sunrise industry. Participation of previously disadvantaged black people is increasing. Black ownership stands at approximately 39% when compared with 2% in 2004.
Support for Black Industrialists
In the last five years, government has supported around 1 000 black industrialists with funding and other forms of support. These black-owned firms employ more than 90 000 workers and contribute many billions of rands to the economy. At the same time, about 200 000 more workers obtained ownership of shares in the companies they work, bringing the total worker ownership in companies in the South African economy to well over half a million workers.
This trend continues to grow as more and more companies realise that it is beneficial to their operation that their workers should have a stake in the businesses they work for. The reforms that government has initiated and the work that is underway will enable it to end load-shedding, to improve the logistics system, to achieve water security and ultimately to create jobs.
