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Ramaphosa: 'Evidence being heard at Zondo Commission is cathartic for SA'

But President Cyril Ramaphosa has admitted that grand corruption has damaged South Africa.

President Cyril Ramaphosa addresses delegates at the World Economic Forum in Davos, Switzerland on 23 January 2019. Picture: @PresidencyZA/Twitter

JOHANNESBURG - President Cyril Ramaphosa says the evidence being heard at the state capture commission has been cathartic for South Africa.

Speaking at the World Economic Forum on Wednesday, Ramaphosa assured international investors that the country's economy is on the road to recovery and that corruption is being addressed.

But he's admitted that grand corruption has damaged South Africa.

“The state capture has damaged several critical institutions in the country, damaged confidence in our economy and resulted in the theft of quite a lot of money. But the commission itself has been bringing corruption on a scale far greater than many people have expected,” he said.

Ramaphosa says that his delegation has come with one message to Davos, that his administration has a plan to revive the country's economy.

"We recognise that we cannot create work on any meaningful scale unless we grow the economy at a far greater pace and for that we need a number of things to be in place and one of those key issues is that we need more investment, particularly in the product sectors of our economy."

(Edited by Mihlali Ntsabo)

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