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South Africa Targets 3% Economic Growth with Major Infrastructure Push

South African President Cyril Ramaphosa © Kremlin Pool / Alamy Stock Photo
  • Ramaphosa unveils $51 billion infrastructure investment plan
  • Pledges to end electricity cuts and reform state-owned enterprises

Johannesburg, South Africa – South Africa aims to lift economic growth to 3% over the next five years, President Cyril Ramaphosa announced during his State of the Nation Address on Thursday. To achieve this, his administration plans to launch an ambitious infrastructure development drive, backed by both local and international financial institutions and investors.

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