Explain aims of accelerated growth initiative for south africa?

 

Question: Explain aims of accelerated growth initiative for south africa?

The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was a national development strategy launched in 2006. It aimed to accelerate economic growth and reduce poverty and inequality in South Africa. The initiative was based on the following five pillars:

• Infrastructure development: The government committed to investing heavily in infrastructure, such as roads, railways, and power plants. This would help to boost economic growth and create jobs.
• Human capital development: The government also committed to investing in education and training. This would help to create a skilled workforce that could drive economic growth.
• Broad-based black economic empowerment (BBBEE): The government aimed to promote economic transformation by giving black South Africans a greater share in the economy.
• Competitiveness: The government aimed to make South Africa more competitive by reducing red tape and improving the investment climate.
• Sustainability: The government aimed to make sure that economic growth was sustainable and did not damage the environment.

AsgiSA was a comprehensive and ambitious development strategy. However, it faced a number of challenges, including the global financial crisis of 2008 and the COVID-19 pandemic. Despite these challenges, AsgiSA made some progress in reducing poverty and inequality. However, more needs to be done to achieve the full potential of the initiative.

Here are some of the specific aims of AsgiSA:

• To achieve an average GDP growth rate of 6% per annum between 2006 and 2014.
• To reduce poverty by half by 2014.
• To create 5 million new jobs by 2014.
• To increase the share of black people in the economy to 30% by 2014.
• To improve the investment climate and make South Africa more competitive.
• To protect the environment and promote sustainable development.

AsgiSA was a significant step forward in South Africa's journey towards a more prosperous and equitable society. However, it is important to remember that it was just one part of a broader effort to achieve these goals. The success of AsgiSA ultimately depended on the implementation of other policies and programs, as well as the commitment of all South Africans to work together to build a better future for all.

Disclaimer

All information provided on this site is generated by artificial intelligence. If you find any content objectionable or have concerns about the information provided, please feel free to comment or contact us directly.

Rjwala

Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.