ANC's economic transformation chairperson Mmamoloko Kubayi has told a gathering of business leaders that it was unlikely that the country will meet its ambitious economic target for the National Development Plan by 2030.
Kubayi said the number of small formal businesses could be doubled, including farms, with black ownership of commercial farm land rising and increase the share of black-owned formal business. An increase in the minimum wage in real terms per year, and an increase in union density of formal workers which was at around 35% in 2019;
An increase in the share of young people aged 18 to 25 with matric so that we can increase their employability; and An increase in the share of women employed in the formal sector which, at 40% in 2019, is still disproportionate to the population of women. "This will be achieved by implementing a series of interventions in a range of key economic policy areas, which are outlined in our document..."This will require us to focus on building a capable and ethical developmental state," she said.