By Lehlohonolo Lehana.
The African National Congress (ANC) is addressing the gaps in its policies with the aim to improve the lives of all South Africans.
ANC’s head of economic transformation Mmamoloko Kubayi said on Sunday, the party wants to ramp economic growth but it will be able to do this if it fixes Eskom and ensures energy security supply.
Eskom has over the last few months implemented a series of blackouts leading to businesses to complain about huge financial losses.
Kubayi, alongside other committee members, addressed the media at Luthuli House on Sunday.
She said the country would have to lift the level of investments from 15% to 25% of GDP if it has to achieve some of the targets.
This related to fighting poverty, unemployment and inequality.
Kubayi said they need to get more young people into the labour market.
Statistics South Africa has revealed figures showing an increase in unemployment in the country. Millions of people remain outside of the labour force.
Kubayi said they need to do certain things to turn the economy around and this includes fixing Eskom.
“If we are to achieve what we are raising there are things that we need to do. Within the energy and mineral resources, we are saying load shedding is crippling South Africa and that is an acknowledgement. We have to restore energy security as it is critical for lifting confidence and investment and creating jobs because more are lost, the more the country is not productive, “said Kubayi.
“We must improve Eskom’s performance both in terms of operationally and financially. The procurement of electricity in terms of the Integrated Resource Plan has to improve. All we are saying is that let’s implement the IRP.”
She added some of the policy objectives have been achieved as laid out in the Economic Recovery and Reconstruction Plan that was unveiled by President Cyril Ramaphosa in 2020.
This includes spectrum allocation after the auction that took place a few months ago.
Kubayi, represented government at the annual meeting of the World Economic Forum in Davos.
The meeting provided an opportunity for the government to share an update on South Africa’s economic reconstruction and recovery plan.
ANC National Executive Committee member Dakota Legoete said the party wanted to bridge the gap in the education system to meet the country’s economic needs.
He said this would help to reduce unemployment. The unemployment figures show that most of the youth are not in the labour force.
Dakota said in some of the countries had been able to address the issue of balancing skills needs with the economy.
The curriculum at school level had to match the economic needs of the country, said Dakota.
The ANC’s policies are looking into this and it would help South Africa in a long way.
“On the issue that the ANC is not bringing new proposals on the current challenges, it is properly covered by our policy documents. For instance as part of revolutionising the skills development programme we are proposing and encouraging in our documents vocational training because currently what exacerbates unemployment in our country is that our economic needs cannot be fed by our skills capacity. Our curriculum does not correspond somehow with our economic needs, “said Dakota.