No fundamental challenges to Mboweni’s growth plan – Magashule

There are no fundamental challenges regarding Finance Minister Tito Mboweni’s controversial economic growth plan, according to ANC secretary general Ace Magashule.

Speaking during a media briefing at Luthuli House on Wednesday, Magashule said: “There are no serious, fundamental problems and challenges… we will be engaging [the alliance] on these issues.”

The briefing came after the national executive committee (NEC) met for a four-day alliance political summit, from September 27 to 30, to discuss among other issues, Mboweni’s economic growth plan.

Magashule said the ANC would hold further engagements with their alliance partners in a “political alliance council” to address outstanding “areas of disagreement”.

Of the NEC meeting, Magashule said: “We had a real good four days where people were open and frank, and our differences are not so much.

“We said where there are still issues to be addressed and flagged we have actually made sure that we will come back and address those issues.”

Mboweni caused a stir within the alliance regarding his proposal for economic growth, with some objecting to both its contents and the minister’s decision to compile it without consulting them more.

Magashule briefed the media on the outcomes of the meeting concerning the document.

“The NEC considered and agreed on a range of economic policy interventions to achieve a higher rate of economic growth and economic inclusion, based on presentations by its Economic Transformation Committee.

“The NEC confirmed that the overarching objective of economic policy remains to build an inclusive economy by stimulating investment, growth and job creation and thereby decisively tackling poverty and inequality, raising living standards and improving the well-being of all South Africans,” Magashule said.

He added: “The meeting therefore concluded on a policy package to more effectively promote sustainable demand together with economic reforms that lay the foundations for medium and long-term impact. These reforms must provide especially young people, women and people with disabilities with opportunities to participate in the economy, while expanding the industrial capabilities of the South African economy.”

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