RATE IT | The ANC's economic game plan

Unprofitable state-owned entities (SOEs) in which the government invests billions have to start showing “value for money”.

These were the sentiments of President Cyril Ramaphosa as he delivered the ANC’s January 8 statement in Bloemfontein.

He said SOEs could partner further with the private sector “without losing ownership”. This would ensure struggling entities improved financially.

“The monitoring and evaluation capacity of the state will be bolstered to ensure value for money, technology transfer and jobs promises are met,” he said.

Here's what's at play in the ANC's economic plan:

Illegal electricity connections

“The ANC will lead a campaign against illegal connections to eliminate load reduction, which is placing an added burden on communities.”

Ramaphosa conceded that electricity supply insecurity was problematic for economic growth and disrupted ordinary people's lives.

“The ANC calls for Eskom and the government to immediately focus on restoring additional units to operation as quickly as possible and arresting further decline by undertaking critical maintenance; ensuring power stations have skilled and experienced personnel; and tackling sabotage, theft and corruption at power stations.”

Investing in infrastructure and curbing delays

The president flagged unfinished government infrastructure construction projects that wasted millions in taxpayers’ money.

“We need to increase investment in infrastructure and ensure that construction of projects is undertaken with the necessary urgency. This will improve access to basic services and increase the overall efficiency and competitiveness of the economy.

“Partnerships with the private sector in infrastructure finance and technical support will be fostered to help in accelerating the delivery of basic services across the country, especially in rural and poorly resourced municipalities.”

R350 social grant

Ramaphosa promised that 11-million unemployed South Africans would continue to receive the R350 grant until affordable, permanent, basic income support is in place.

“Social grants and welfare payments should be protected from inflationary pressures and should be expanded to provide for basic incomes as fiscal space allows. Until an affordable, permanent, basic income support is in place, the government should continue to provide the social relief of distress grant of R350,” he said.