President Cyril Ramaphosa has signed performance agreements with all of his cabinet ministers, detailing the targets they will need to meet.

“These contracts aim to strengthen the capacity of the state and increase accountability, the presidency said in a statement on Tuesday 8 December.

“These agreements – which are based on the targets contained in the Medium-Term Strategic Framework – will be made public so that the people of South Africa can hold those who they elected into office to account.”

Irregular expenditure must also be reduced by 100% by 2024 and consequences for corruption and misconduct must be enforced.

In the agreement, it is noted that this is a legal and binding performance agreement that will be used for assessment purposes.

In instances where performance is sub-optimal, the president will “meet with the minister to discuss areas of improvement”. These will be incorporated on the scorecard for the next performance review.

The president may take “any action he deems necessary” in cases of persistent non-performance.

To read the performance agreement between President Cyril Ramaphosa and Stella Ndabeni-Abrahams – click on the link below:

Performance Agreement between The President of South Africa and The Minister for Communications and Digital Technologies

Article Courtesy of: Jane McKane – MYBROADBAND

If this strategy is actually implemented (and I think it will be) and just half successful, the SA economy could boom. Considering that “Africa is the next global growth area” the confidence this strategy will give foreign investors desperate for opportunities, and TINA, will result in billions of $’s being invested here. Our Rand and stock and bond markets being the initial beneficiaries, but as confidence grows, direct foreign investment will boost jobs and reduce unemployment so that all will benefit. Roll on 2024. – Andrew van Dam, FinBofs.com