President Cyril Ramaphosa has announced that he will be appointing an investment and a state-owned entities council.

Ramaphosa made the announcement at the first sitting of his Presidential Economic Advisory Council.

The eighteen member panel met at Ramaphosa’s Tuynhuys offices in Cape Town on Wednesday.

In his opening address, Ramaphosa said he was optimistic that the economy would eventually begin to improve.

“All these reforms and initiatives that are now underway are reasons for hope. There is hope on the horizon. Our latest approach to the international bond markets was marked with enthusiasm and reasonable pricing as well.”

“Growth rebounded in the second quarter of 2019 with GDP growth of 3.1%. It is my hope that the council will direct its efforts towards practical solutions to the complex and pressing challenges our economy faces,” added Ramaphosa.

 

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