Cape Town: President Cyril Ramaphosa, in his first State of the Nation Address to the seventh democratic Parliament at the Cape Town City Hall, reaffirmed the government’s commitment to equipping women entrepreneurs with the necessary skills to compete for government tenders. The President emphasized the need to transform the economy, which he described as long hindered by the exclusion of the majority of South Africa’s population.

According to South African Government News Agency, President Ramaphosa highlighted the deprivation faced by Black South Africans in terms of land, capital, skills, and opportunities. He stressed the importance of empowering Black people, women, and persons with disabilities, who historically were excluded from significant economic roles. As part of this empowerment, he announced a R20 billion transformation fund, set to be distributed annually over the next five years, aimed at supporting Black-owned and small business enterprises.

The President also committed to accelerating the regulations of the Public Procurement Act to ensure equitable opportunities for businesses owned by women, youth, and persons with disabilities in government contracts. He pointed out the ongoing transformation initiative through the National Skills Fund Disabilities Programme, which aims to empower over 10,000 people with disabilities in its first phase through specialized training, stipends, and tools.

Through these initiatives, President Ramaphosa emphasized the government’s goal to unlock the potential of the country’s economy for sustained growth. He envisioned a nation where everyone can work, earn a decent living, and realize their potential, with equal pay for equal work being a priority.

The President highlighted the need for growth to create jobs for all, particularly for young people. He pointed to the success of the Presidential Employment Stimulus, which has generated almost 2.2 million work and livelihood opportunities, demonstrating how public employment programs can contribute to sustainable employment. The Social Employment Fund and the National Pathway Management Network are examples of initiatives that have created thousands of jobs and work opportunities for youth, with plans to scale these programs further.