Speaking earlier at the South African Heads of Mission to African countries, he outlined South Africa’s priorities for its term at the helm of the African Union. 

These included economic integration across the continent and the operationalisation of the African Continental Free Trade Area (AfCFTA), the economic and financial inclusion of women and the fight against gender-based violence, as well as the promotion of good governance. 

In the meeting with business, the president welcomed the operationalisation of the AfCFTA in July 2020 as a historic moment and the start of a new era for the continent. 

He said that the AfCFTA would constitute the largest common market in the world, composed of over 1 billion people and a combined GDP of more than US$3.3 trillion, and would help develop the type of inclusive development path that is essential to Africa’s long-term prosperity. 

The president has further called on business to work with government on concrete measures to realise Africa’s aspirations; saying that the legacy of the AfCFTA will be enhanced intra-African trade and jobs and prosperity created for the people of Africa. 

"The meeting identified the need to reinvigorate South Africa’s leadership of the Presidential Infrastructure Champion Initiative as infrastructure is central to the resolution of Africa’s social, economic and political challenges," the statement said. 

"To this end, the president has urged business to facilitate greater levels of intra-African investments focusing specifically on trade-enabling infrastructure and manufacturing capabilities." 

Although there are challenges for businesses operating in other countries, the sector has pledged to work in partnership with governments "for the sustainable development of Africa as a whole". 

"The President has welcomed the frank engagement with business as the starting point for a more structured approach to cooperation between government and the private sectors around a common African economic agenda," the statement said.

“This is a journey that we should walk together for the benefit of the country and the benefit of the continent,” Ramaphosa said.

African News Agency