President Jacob Zuma, speaking at a recent press briefing at the Union Buildings, said government will reduce policy uncertainty to boost economic growth. The President said:
"To further respond to the challenges we face, we have decided on some short-term interventions... One of these is to reduce policy uncertainty and shore up confidence in the government's ability to deliver on its promise of boosting growth More than that, we need some concrete initiatives which ensure a turnaround in our economic fortunes."
The briefing followed a meeting held between government, labour and the business sector, itself following an engagement earlier this year between the CEOs of major companies and other industry leaders to consider collaborative action to stimulate economic growth in South Africa and assist in job creation.
According to President Zuma, the engagement suggested initiatives such as the establishment of a joint private and public sector fund for small business support, the focus of which would be to provide venture capital-type funding and mentoring to the target groups - black entrepreneurs in particular.
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