Ramaphosa gives Moody's land reform assurances
Publish date: 12 March 2018
Issue Number: 765
Diary: IBA Legalbrief Africa
Category: South Africa
New President Cyril Ramaphosa continued his upbeat presidency style last week when he held discussions with Moody’s on the various initiatives under way to accelerate economic growth and create jobs. At the meeting‚ just two weeks before Moody’s is set to announce its latest outlook on SA‚ Ramaphosa also reaffirmed that accelerated land reform would unfold within a clear legal framework and without negatively affecting economic growth‚ agricultural production and food security, says a TimesLIVE report. The meeting follows one that newly-appointed Finance Minister Nhlanhla Nene had with the ratings agency on Monday‚ where he outlined government’s economic and fiscal plans. The Presidency said Ramaphosa described the new mood of hope‚ renewal and unity in SA. It said fresh consultations on the Mining Charter‚ recent measures to strengthen Cabinet‚ changes in the board and management of Eskom and an inquiry into state capture formed part of government’s invitation to investors to come to SA. ‘President Ramaphosa underlined government’s determination to build a social compact of government‚ labour‚ business and civil society to advance investment‚ youth employment and community development.’ He also said job creation was government’s most important priority and failure to create such opportunities constituted the greatest risk to the country. Moody’s is due to announce its latest outlook on South Africa on 23 March.