S. Africa’s Ramaphosa unveils reforms to revive economy
President Cyril Ramaphosa on Friday unveiled measures as part of an economic stimulus plan to boost investor confidence after South Africa entered a recession in the second quarter of this year. The plan includes infrastructure investment and easing of visa requirements in a bid to create jobs in the tourism sector, which accounts for 10 percent of the economy. “The measures we are announcing give priority to those areas of economic activity that will have the greatest impact on youth, women as well as small businesses,” Ramaphosa said in the capital, Pretoria. The country’s economy tipped into recession as it shrunk 0.7 percent in the second quarter, dealing a blow to Ramaphosa who came to office in February, AFP reports.