Ramaphosa says economic recovery gains momentum 4 straight quarters – SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa’s news leader.

President Cyril Ramaphosa says South Africa’s economic recovery is gathering pace, with the country recording growth for four consecutive quarters. In his weekly address to the nation, he highlighted signs of strengthening resilience across the economy.

Ramaphosa noted encouraging labour market trends, including a steady decline in unemployment. He pointed to recent data from Statistics South Africa indicating that poverty and inequality have also eased, underscoring the benefits of improved economic momentum.

According to the President, the local economy is showing a modest but broad-based recovery. He cited several positive indicators: gross domestic product has exceeded expectations, consumer sentiment has improved, and capital investment is on the rise.

Business and market confidence appear to be improving as well. The stock exchange has performed firmly, and the average inflation rate has fallen to its lowest level in about two decades. These developments, he said, reflect a more stable macroeconomic environment and better forward-looking expectations.

Despite the progress, Ramaphosa cautioned that there is no time for complacency. He called for intensified efforts in the year ahead to expand investment, accelerate job creation, and ensure that growth becomes more inclusive and sustainable.

With Cabinet convening its annual Lekgotla on Wednesday to finalise government’s action plan, the President said the focus will be on converting recent gains into long-term benefits. Priorities include removing barriers to investment, improving the efficiency of public services and infrastructure, and supporting sectors with high employment potential.

Reflecting the more positive tone in financial markets, the rand strengthened by about 0.6% against the US dollar, reaching its strongest level in more than three years.

Ramaphosa concluded that while challenges remain, the recent performance shows that determined, coordinated action can deliver results. He urged continued collaboration between government, business, labour, and communities to entrench the recovery and build a more resilient, dynamic economy.