ANC Seeks Substantial Increase in Investments over Next 4 Years

The ANC on Saturday pledged to deliver on its promise to create more jobs in an economy that has been characterized by limited growth.

Factors such as job creation, health, education and securing investment in the economy for inclusive growth as well as advancing social transformation were some the key points of the ANC’s election manifesto delivered at the Moses Mabhida Stadium in Durban on Saturday, the Johannesburg-based Sunday Independent reported.

The party’s 2019 election manifesto, titled “Let’s Grow South Africa Together,” spoke massively on the party’s intention to create more jobs.

According to the election manifesto, the party said it would create 275 000 jobs each year by boosting local demand for goods. It also said the party would invest more in the mining, manufacturing and agricultural sectors.

“We will ensure that we not only create new jobs but work hard to protect existing jobs. In line with the presidential jobs summit outcomes, we will take active steps to ensure that retrenchments are the last consideration taken by employers and that retrenchment procedures are reviewed,” read the document.

The party said it would set bold but achievable targets for youth internships, including prescribing a minimum percentage in the public sector while securing concrete commitments from the private sector.

It also said it would work to increase the levels of investments by R1.2 trillion ($72.7 billion) over the next four years as part of the plan to grow the economy and create jobs.

“We are within reach of our target,” the party said. “These investments will help diversify the economy in sectors like mining, forestry, manufacturing, telecommunications, transport, energy, water, agro-processing, consumer goods, pharmaceuticals, infrastructure and financial services.”

The party further explained that it would push for workers to own stakes in companies that they work for and share the profits.

This would be done through the introduction of legislation for the extension of company ownership to a broad base of workers through an employee ownership scheme and similar arrangements to supplement workers’ incomes and build greater partnerships between workers and owners to build these businesses.

Show More

Related Articles

Leave a Reply

Back to top button

Subscribe today for free and be the first to have news and information delivered directly to your inbox.

By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Adblock Detected

Please consider supporting us by disabling your ad blocker
%d bloggers like this: