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'We are working to de-racialise our economy'

President Cyril Ramaphosa says the state is serious about supporting black businesses.

President Cyril Ramaphosa. Picture: GCIS

JOHANNESBURG - President Cyril Ramaphosa says government is working to de-racialise the economy by investing in black industrialists.

He says the state is serious about supporting black businesses.

Speaking at the official Freedom Day celebrations in Bloemfontein on Friday, the president said there was a major focus on the localisation of production of goods and services.

“We are focusing on localisation of production of goods and services. We are focusing on localisation of procurement. In support of this, we are working to de-racialise our economy.”

The president also touched on the proposed R20 an hour minimum wage.

While he conceded the figure was not enough, he said he believed it was a great victory for the workers of South Africa.

”It is a great victory for the workers of this country of having a national minimum wage. It is a tribute to the social partners, our unions, the union federations that were involved in the discussions.”

(Edited by Refilwe Thobega)

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