The Johannesburg office of the McKinsey Global Institute released a new report that sets out a series of tangible precepts which could reignite South Africa’s growth.
The ‘big five’ measures will apparently add over one trillion rand to our annual GDP by 2030, provide opportunities to transform the wider South African society and create over 3.4 million jobs in the process.
CapeTalk’s John Maytham (standing in for Kieno Kammies) spoke to Chrestine Wu - McKinsey partner as well as Dr Iraj Abedian Pan-African Investment and Research:
We need to take a step back especially at this volatile time and focus on what are the big prizes and also focus on where South Africans really needs to be strategically by 2030.— Chrestine Wu - McKinsey partner
John Maytham asked Dr Iraj Abedian what he thought about the 'big five' growth opportunities and he said:
I think its a practical approach in reviving South Africa's economy. I find it very insightful and exciting, hopefully we we can take it further to implementation.— Dr Iraj Abedian Pan-African Investment and Research
Here are the 'Big five' growth opportunities:
- Creating a globally competitive hub in advanced manufacturing;
- Making infrastructure investment more productive to enable growth across the economy;
- Harnessing natural gas for power generation and industrial development;
- Boosting exports of services to the rest of Africa and the world, and;
- Unlocking South Africa’s full agricultural production and processing potential.
Click here to peruse the full report
Listen to the full conversation below: