Ramaphosa unveils stimulus to boost South African economy

Cyril Ramaphosa made a bold attempt to revive investor confidence in South Africa’s recession-battered economy by unveiling a stimulus plan to shift spending and axing contentious policies.

In a package of measures announced on Friday, the South African president said that the state would repeal regulations on mining and tourism that have been hostile to investment to halt a downturn in Africa’s most industrialised economy.

South Africa’s cabinet approved a new charter for the mining industry and will withdraw other mineral legislation that deepened uncertainty, he said. New visa rules will also be drawn up to end onerous paperwork for families visiting the country with their children.

“We are decisively and rapidly accelerating the implementation of key economic reforms that will…

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