SA’s Dwindling Economy: Deputy President Cyril Ramaphosa Speaks Out


In the face of the dwindling economy, Deputy President Cyril Ramaphosa has expressed confidence that the country’s credit rating won’t be downgraded as the present administration has been working hard around the clock to change the present status of the economy.

Ramaphosa asserted that though South Africa is facing a ‘challenging time’, Zuma-led administration is doing everything possible to stabilize the economy.

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There have been stories in town that S&P Global Ratings will downgrade South Africa to junk status but the Deputy President called on all South Africans to stand up and help the economy grow.

“We should not be downgraded. We are very positive and robust, clearly we are doing as much as we can. South Africans have taken the bull by the horns and they are doing as much as possible to try to move the needle in the right direction,” he said.

On Wednesday, Deputy President Cyril Ramaphosa delivered a speech about South Africa’s potential. During the event, he impressed the audience by showing off his language skills- switching between most of South Africa’s official languages.

Speaking on the theme: “Our South Africa”, Ramaphosa switched between the following languages- English, Afrikaans, Zulu, Sotho, Venda and Ndebele.

From Kuruman to KwaZulu-Natal and Free State to Ekurhuleni, he focused on positives in the country. He added that working together is the only way to change South Africa for the better.

Part of his speech reads: “Since 1994, we have sought to forge a South Africa that is stable, equal and prosperous from the ruins of racial division, deprivation and underdevelopment.

The story of the last 22 years is a story of extraordinary achievement. It is decidedly a multifaceted account of our nation’s modern history.

It is a story of new homes, new schools, newly piped water, new sanitation, new educational opportunities and new social support processes and opportunities for the most vulnerable South Africans.

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It is a story of new factories, new technologies, new roads, new ports, new communications infrastructure and new markets for South African goods and services.

This story comes with impressive statistics – often counted in millions and hundreds of thousands – that show the transformation that has unfolded in this country since 1994.”

He however noted that it is the responsibility of the Presidency – through the institutions of the state, working with social partners, and in concert with the people – to ensure that South Africa continues to move forward.