South Africa’s Cabinet met on Wednesday (19 September 2018) at the Union Buildings in Pretoria to discuss the state of South Africa.<\/p>\n
In a follow-up statement published on Thursday, cabinet outlined its discussions and made a number of major proclamations\u00a0on everything from the economy to new BEE laws.<\/p>\n
BusinessTech looked at the biggest announcements below.<\/p>\n
Stimulus package<\/strong><\/p>\n Cabinet deliberated and approved the proposed stimulus package which proposes measures to reignite our economy from a number of related portfolios.<\/p>\n It confirmed that a media briefing led by President Cyril Ramaphosa will be held on Friday (21 September<\/strong>) to present this package.<\/p>\n The economic stimulus package adopted by the nation\u2019s cabinet is aimed at boosting economic activity and confidence in sectors affected by regulatory uncertainty, president Cyril Ramaphosa\u2019s office said on Sunday<\/a><\/strong>.<\/p>\n “The\u00a0stimulus package will include a set of economic reforms covering mining, telecommunications, tourism and transport industries” the presidency said.<\/p>\n “The stimulus package will re-prioritise government spending, within the existing fiscal framework, toward activities that will stimulate economic activity.”<\/p>\n Visa related reforms<\/strong><\/p>\n Cabinet also received a joint report from the Ministers of Home Affairs and Tourism respectively, on a number of visa-related reforms which will make it easier for tourists, business people and academia to come to South Africa.<\/p>\n The reforms include amendments to the regulations applying to foreign minors travelling to South Africa, which is expected to be gazetted in October.<\/p>\n Negotiations on visa waivers and relaxation of visa requirements for certain countries are also being finalised. Further details will be announced this week.<\/p>\n Retrenchments<\/strong><\/p>\n In line with President Ramaphosa\u2019s call for a moratorium on job cuts resulting from the economic conditions in the country, Cabinet reiterates its appeal to employers that retrenchments must be a last resort, and that other available and innovative ways to contain costs be thoroughly explored to sustain jobs.<\/p>\n
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