In a bold address to Parliament, South African President Cyril Ramaphosa charted a comprehensive roadmap aimed at reigniting inclusive growth, accelerating economic reforms, and improving the lives of South Africans through structural transformation and targeted relief measures.

The President confirmed that while the mineral royalty regime will remain unchanged, it is effectively designed to capture additional revenue when commodity prices soar. Between 2020 and 2022, mineral royalties doubled, reflecting the boom period. Even as royalties dipped to R16 billion in 2023/24, mining still contributed 14% of all corporate taxes.

He further highlighted the newly adopted Critical Minerals Strategy, which positions South Africa to harness its mineral wealth—particularly in green energy minerals—through beneficiation, localisation, and employment creation.

Amid rising economic pressure, Ramaphosa noted that headline inflation dropped to 2.7% in March 2025 and food inflation fell to 2.2%. He pointed to increased social grants, free basic services for over 11 million households, and centre-based food support programmes as key buffers for vulnerable communities.

“Government spends 60% of its revenue on the social wage,” he said, underscoring a redistributive fiscal policy framework aimed at reducing inequality.

The President confirmed that public infrastructure investment will exceed R1 trillion over the next three years. This includes transport, water, housing, and digital infrastructure. He stressed the need to grow key sectors like agriculture, mining, and renewable energy, while also creating new industries in electric vehicles and green hydrogen.

As part of the government’s push to modernise, Ramaphosa announced that Cabinet has approved a Digital Transformation Roadmap, focusing on digital identity, digital payments, and data integration to accelerate growth and inclusion.

Operation Vulindlela’s second phase is also underway to fast-track structural reforms in logistics, energy, water, and visa systems—each critical to unlocking investment and job creation.

Addressing racial inequalities, Ramaphosa defended the continued use of race-based data and policy tools under Broad-Based Black Economic Empowerment (BBBEE) to measure and accelerate transformation.

“Until we reach equality, there will be circumstances where we need to use such terminology,” he said, adding that such terms must ultimately become irrelevant through progress.

On global matters, the President reaffirmed South Africa’s support for a negotiated peace in the Russia-Ukraine conflict. “We support all efforts aimed at ceasefire and dialogue,” he said, referencing multiple engagements with both President Putin and President Zelenskyy.

With the Government of National Unity aligned on its apex goal of job creation and growth, Ramaphosa’s vision for South Africa is one of ambition, equity, and resilience. Backed by solid macroeconomic frameworks, smart infrastructure investment, and digital transformation, the message was clear: the engine of reform is running, and no one will be left behind.