President of South Africa, Cyril Ramaphosa address today the 2nd Women Economic Assembly WECONA debating on South Africa’s economic recovery, which is at risk of becoming a futile exercise if women are deliberately excluded from participating in value chains in various sectors. Ramaphosa said that this year’s aim is to activate public and private sector supply value chains to advance women’s economic empowerment.
Black Economic empowerment cannot be separated from women’s economic empowermentCyril Ramaphosa, President of South Africa during Women Economic Assembly
The president showed statistics indicating that in the second quarter of 2022, 47% of South African women aged between 15 and 64 years were recorded as economically inactive, that means that almost half of the working age women in South Africa are out of labour force compared to 36% of their male counterparts
We must empower women to have access to all levels of our economyRamaphosa
He says the gathering is therefore about turning words into action, translating commitments into reality, and turning promises into concrete projects, opportunities and jobs for the women of South Africa
Ramaphosa says the automotive sector has already came on board, with their R1.6 billion Automotive Industry Transformation Fund having committed to allocate 30% of overall spend to advancing gender transformation in the industry
The Assembly aims to facilitate the participation of women-owned businesses in core areas of the economy. The initiative emphasizes the participation of women-owned enterprises in industry supply and value chains to foster sustainable economic development.
The event was hosted at the Department of International Relations and Cooperation’s OR Tambo Building, Soutpansberg Rd, Pretoria.