Ramaphosa on tackling unemployment, inequality & poverty

In an exclusive interview on CNBC Africa today, South Africa's President Cyril Ramaphosa says the country is working to get to the root cause of poverty in order to address the challenges of inequality in South Africa. He said this while responding to questions from guests in Lagos during this interaction. Bismarck Rewane, CEO of Financial Derivatives and Member of Nigeria's Economic Advisory Council and George Etomi, Principal Partner of Etomi and Partners joins CNBC Africa to engage with South Africa's President.

Tue, 05 Nov 2019 12:39:50 GMT

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AI Generated Summary

The interview highlighted South Africa's ongoing efforts to address the root causes of poverty, inequality, and unemployment, with President Ramaphosa emphasizing the historical disparities and legacy of inequality in the country.
The President announced plans to host an investment conference to attract 300 billion rand in investments to boost economic growth, create job opportunities, and reduce the unemployment rate in the country.
The importance of renewable energy sources like solar and wind in addressing energy challenges, the struggles faced by South African Airways in the aviation industry, and the need for regional integration and unity to promote inclusive growth in African countries were also discussed during the interview.

In a recent exclusive interview on CNBC Africa, South Africa's President Cyril Ramaphosa discussed the country's ongoing efforts to tackle the root causes of poverty, inequality, and unemployment. The President highlighted the challenges faced by the nation, including the fact that South Africa is currently the most unequal society in the world. He emphasized that historical disparities and a legacy of inequality have contributed to the current situation in the country. Despite making progress in improving the livelihoods of the majority, inequality and unemployment continue to hinder the nation's development. To address these issues, President Ramaphosa announced plans to host an investment conference aimed at raising 300 billion rand, approximately 20 billion dollars, to attract both local and foreign investors. The goal is to boost economic growth and create more job opportunities to reduce the unemployment rate. The President acknowledged the correlation between poverty, inequality, and crime rates in the country and underscored the importance of addressing the root cause of poverty to combat these challenges effectively. The interview also touched upon using sports as a unifying factor, with President Ramaphosa recognizing the potential of sports to bring people together and promote unity within the country and across the continent. The President addressed concerns around discrimination and exclusivity, calling on leaders to work together to overcome challenges and promote inclusivity. Additionally, the discussion delved into the energy sector, with President Ramaphosa highlighting the importance of renewable energy sources like solar and wind to address energy challenges and drive economic growth. The interview also touched upon the aviation industry, with President Ramaphosa acknowledging the struggles faced by South African Airways and outlining plans to seek a strategic equity partner to help reposition the airline. Guest speakers in the interview praised President Ramaphosa for his understanding of the issues and his openness to engaging with investors and addressing challenges. They highlighted the importance of leadership, unity, and regional integration in overcoming obstacles and achieving inclusive growth in African countries. The discussion underscored the need for accountability, understanding, and collaboration to drive progress and address key issues affecting the continent. Overall, the interview shed light on the efforts being made by South Africa to combat unemployment, inequality, and poverty, and emphasized the importance of collective action and collaboration to overcome these challenges and promote sustainable development.