South Africa’s National Treasury outlined its vision to bolster economic growth and tackle a 29% unemployment rate, proposing a range of reforms including cutting red tape for businesses and easing visa rules to boost tourism. The reforms could lift the average economic growth rate by two to three percentage points and create more than one million jobs over a decade, the Treasury said in a policy paper released on Tuesday. Other proposals include selling off power plants owned by state utility Eskom Holdings SOC Ltd. and introducing new rules that will let households and companies sell excess electricity they produce back to the national grid.
