President Jacob Zuma addressed a business delegation at the World Economic Forum (WEF) in Switzerland. In his address The President said some areas of the South African economy required more effort especially with regards to the energy sector.
In his speech he pinpointed mining as the continuous backbone of the country’s economy.
“South Africa is the wealthiest mining jurisdiction in the world with our non-energy mineral wealth being estimated at US$2.5 trillion. We have been working hard together as business, government and labour to stabilise and revitalise the mining sector, and we are making progress,” he said adding that this was possible because of government, business and labour working together.
“Our framework agreement for a sustainable mining industry has yielded desirable results as evidenced by stability in the sector and the attainment of aggregated growth for the industry of 5.4 percent year on year through September.”
The President urged the delegates to continue exploring opportunities within South Africa and also the continent.
“There are many opportunities in South Africa,” he said.