Cape Town – The ANC will work with all sectors of society to boost the economy, which includes the implementation of an energy master plan, said secretary general Gwede Mantashe on Sunday.
He was speaking at a press briefing following a three-day meeting of the National Executive Committee (NEC), who discussed the 2014 elections and the Cabinet Lekgotla ahead of the State of the Nation Address.

“The NEC Lekgotla accepted that the election victory is a mandate for the ANC to implement the radical economic transformation as decided by the 53rd National Conference,” said Mantashe.

“We shall move South Africa forward, faster”.

He said the ANC will need to work with all stakeholders to improve the economy, the state and people’s lives.

Mantashe pointed out that among the key priorities of the new administration will be the implementation of an energy master plan to unlock the economic potential of the country.

“Public investment in this regard aims to crowd in private investment, while simultaneously enhancing the role of the state and expanding black participation in the economy.”

Mantashe said the Lekgotla also reaffirmed its commitment to youth empowerment.

“The 60% aside of youth initiative as contained in the Youth Accord should be implemented.”

There are fears that the economy is on the verge of a recession following bleak economic data.

While Finance Minister Nhlanhla Nene and Reserve Bank governor Gill Marcus moved to sooth concerns of the country slipping into a recession, economist Mike Schüssler bets the country is already in a recession.