President Ramaphosa delivered his State of the Nation address in Parliament yesterday and outlined seven priorities and five goals whilst acknowledging that due to financial constraints government would not be able to deliver “everything at one time”. In the real estate sector, the economy has played a major role in activity and commitment and we're excited that the President is prioritising economic growth and hope for strategic and continued implementation.
Overall there was a positive sentiment in the President's remarks and we applaud his vision of modern, high tech cities with world-leading public transport and believe we should all get behind the vision to make it happen. The President said that he wants to reduce data costs and that to be internationally competitive, the high cost of doing business and complicated and lengthy regulatory processes must be addressed in South Africa and that new companies should be able to be registered within a day.
It is crucial South Africa leads the way on the continent for innovation in business and technology in order for us to improve growth and long term sustainability. The President implored everyone to buy local products to boost local production. The President said that within the next year, the government hopes to conclude agreements with retailers to stock more South African goods on their shelves to actively promote South African products.
The attention the President paid to the economy and our crisis among youth unemployment, which is now at 50%, was a breath of fresh air as acknowledging our problems is imperative when trying to alleviate them.
There were certainly pertinent issues we wanted the President to detail but he failed to do so, especially on the land issue. It seemed that state-owned land would be targeted first. Ramaphosa explained that the state will accelerate efforts to identify and release public land that is suitable for smart, urban settlements and farming. Explaining that the panel’s recommendations will inform the finalisation of a comprehensive, far-reaching and transformative land reform programme.
We expect more clarity on the recent report of the Presidential Advisory Panel on Land Reform and Agriculture, which will now be presented to Cabinet for consideration.
It is interesting that he was clear that it is not just farmland, but the need to ensure that land in urban areas is also made available. The President believes while the government have made great progress in providing housing, many South Africans still need land to build homes and earn livelihoods. In the next five years, he plans to accelerate the provision of well-located housing and land to poor South Africans.
The President's plans cannot be faulted and his plans are inspiring, we just hope he is able to implement these strategies effectively and take our country forward. Statement by
Richard Gray
Harcourts Africa Chief Executive Officer