Infrastructure spending has declined in recent years, but Ramaphosa said the fund would co-ordinate government’s various projects to ensure they are effective and efficient.
He said “shovel-ready” projects would be prioritised, such as roads, housing, water infrastructure, schools and public transport.
Commenting on uncertainty over the land debate, Ramaphosa said government will soon finalise 30-year leases for farmers.
He has recently appointed a 10-person panel to advise government on land reform.
Ramaphosa said the country would not go to institutions like the International Monetary Fund for assistance.
Ramaphosa announced that Cabinet has approved the revised version of the third Mining Charter, after former Mineral Resources minister Mosebenzi Zwane’s version was widely criticised by companies and communities.It will also, in some instances, add a stimulus to further thought.Since no two essays are the same, no single formula will automatically generate an introduction and conclusion for you.The wide-ranging plan was approved by Cabinet this week and includes policy and spending reforms.It centres on shifting R50-billion in the current budget from non-performing projects to areas that can boost the economy and provide jobs and establishing an infrastructure fund to boost labour-intensive investment.Parliament will be advised to withdraw the Mineral and Petroleum Resources Development Act Amendment Bill, which has long created uncertainty in the sector.Another announcement likely to boost confidence was that government will initiate the process for the allocation of high-demand radio spectrum in the next few weeks.He said it’s performance would be measured by economic indicators such as GDP and employment levels while government and external agencies measure its effectiveness.As South Africans, we have confronted challenges far greater than this before.Government will introduce a support package for black commercial farmers to facilitate their entry into food value chains.Ramaphosa said finance would be mobilised from the Land Bank, Industrial Corporation and commercial banks.