South Africa's ANC Unveils 10-Point Plan to Revive Economy
The African National Congress (ANC), led by President Cyril Ramaphosa, has announced a comprehensive 10-point economic action plan designed to tackle poverty, unemployment, and the rising cost of living in South Africa. The plan aims to stimulate growth, create jobs, and restore confidence in the economy ahead of the 2026 local government elections.
Addressing an "Economic Emergency"
President Ramaphosa has described South Africa's economic challenges as an "emergency," emphasizing the urgent need for coordinated action. Speaking at the ANC’s National Executive Committee (NEC) meeting in Ekurhuleni, he stated that the economic pain felt by ordinary South Africans is "unacceptable." The plan builds on the Medium Term Development Plan and the party’s 2024 election manifesto, aligning with the National Development Plan and the broader goals of the seventh administration.
Key Interventions of the 10-Point Plan
The 10-point plan focuses on several key areas, including:
- Electricity and Infrastructure Investment: Introducing preferential electricity tariffs for key industries and accelerating the Transmission Development Plan.
- Logistics Sector Recovery: Fast-tracking Transnet’s recovery and encouraging private sector participation in rail and ports.
- Rebuilding the Chrome and Manganese Industries: Finalizing export tariffs and introducing defensive duties on dumped imports.
- Boosting State Capacity for Infrastructure Projects: Professionalizing project management and establishing a cross-government coordination unit.
- Driving Local Economic Development: Investing in townships, rural areas, and small towns, linking local infrastructure spending to industrial policy.
- Labour Activation and Public Employment: Scaling up the Presidential Employment Stimulus and focusing on reskilling, artisan training, and apprenticeships.
- SMME Support and Development Finance Reform: Expanding market access and concessional finance for small businesses, transforming DFIs into catalytic investors.
- Provincial Economic Growth Beyond Major Cities: Revitalizing industrial parks and aligning with special economic zones, prioritizing labour-intensive sectors.
- Trade Diversification and Continental Integration: Deepening engagement with the African Continental Free Trade Area (AfCFTA).
- Budget Coordination and Development Finance: Aligning fiscal, monetary, trade, and industrial policies, mobilizing pension funds and DFIs for infrastructure investment.
Urgency, Governance, and Implementation
To ensure effective implementation, the NEC has resolved to create an Economic War Room in the Presidency. This unit will oversee implementation, track progress through published scorecards, and ensure accountability. Ramaphosa emphasized that professionalism, merit-based appointments, and good governance would be non-negotiable in delivering results.
Diversifying Trade and Sector-Specific Support
The plan also highlights the importance of diversifying trade partners and providing targeted support to specific sectors. It aims to strengthen participation in the African Continental Free Trade Area (AfCFTA) and address the impact of tariff and non-tariff barriers. An emergency industrial support package will be launched for sectors affected by increased tariffs, expanding exports to BRICS countries and other markets.
ANC's Commitment and Future Outlook
Despite previous economic reforms, South Africa continues to face challenges. The 10-point plan signals a renewed focus on delivery-focused economic recovery, emphasizing state capability, sectoral support, and inclusive development. The ANC aims to convince its coalition partners in the Government of National Unity (GNU) to support and adopt these interventions as part of government policy.
