Deputy-President Paul Mashatile
Minister Thulas Nxesi
Other Ministers present
Nedlac Executive Director
The Leadership of Nedlac Constituencies
Distinguished Guests
Ladies and gentlemen

We commend the continued performance of Nedlac under the leadership of the ED, Ms. Lisa Seftel, and her team! It is evidence of what can be achieved if an institution has committed leadership, as well as skilled and motivated staff.

The report highlights the crises we face in SA across a very broad front. This includes a negative trend in critical economic and social indicators, ranging from decreasing GDP to increasing inflation, increasing unemployment (especially among the youth), and increasing public debt and debt servicing costs. All of this is exacerbated by ongoing load-shedding, deteriorating security conditions (law and order), the impact of climate change, and ongoing constraints to growth. This toxic mix has led to SA no longer being an attractive investment destination.

The geopolitical dynamics globally are also very volatile, and critical developments like the Russia-Ukraine war, our positioning on foreign policy, and some of the rhetoric around an otherwise valid move towards building a “south” bloc are all impacting negatively on our country.

Full Speech Attached