Kzn Paves Path to Prosperity

The KwaZulu-Natal Plan of Action for the next five years will put the province in line with Vision 2030 to make it a prosperous province, with healthy, secure and skilled people.

“We are committed to an ongoing partnership with the private sector in the struggle for economic growth and wealth creation,” said KwaZulu-Natal Premier Senzo Mchunu during his State of the Province Address on Thursday.

He reiterated the commitment of the provincial government to work with organized labour to ensure skills development and to maintain stability in both private and public sectors.

“This commitment is informed by the acknowledgement that the workers play a critical role, as they are the ones who are in the engine rooms of our economy,” he said.

He said the KwaZulu-Natal economy has grown when measured in real terms from R270 billion in 2010 to R347 billion in 2014.

The provincial economy is projected to grow at 3% in 2014 and around 3.5% to 4% in 2015.

Although the tertiary sector continues to be the largest contributor to regional economic growth, the province is better positioned to capitalise on agriculture, mineral beneficiation, manufacturing, tourism, freight and logistics, as well as the financial services sector to boost its growth level.

“We are concerned about recent losses of jobs in the agricultural sector, about youth unemployment and the fact...