Deputy President Cyril Ramaphosa made several crucial points in his highly significant ‘New Deal’ speech in Soweto last week.

Delivered only weeks away from the important 54th National Conference of the African National Congress, the ‘New Deal’ speech has all the hallmarks of a blueprint for the generation of growth within a South African economy that is currently at a standstill.

Ramaphosa was correct in pointing out that South Africa is at a pivotal point in its history, and that this crucial period presents both grave threats and huge opportunities.

The biggest threat, as he was correct to point out, is that, for the first time since the advent of democracy, there is a real chance of South Africa suffering dangerous reverses.

But, as he emphasised, this worrying point in our history also presents a great opportunity to change the trajectory of the economy.

His inspiring ‘New Deal’ advocates the coming together of govern- ment, business, labour and civil society in a meaningful and effective social compact to construct a prosperous and just society, based on opportunities for all. Important is his directive that such a ‘New Deal’ needed to be concretised in an action plan of solid delivery, firm commitments, definite timelines and spirited urgency.

His call for a renewed unity of purpose should be strongly supported and he is correct when he says that an effective and committed leader- ship team that promotes the interests of the people above all other interests is essential.

There has to be an uncompromising rejection of corruption, patronage, cronyism and wastage and an unrelenting commitment to the implementation of decisions, policies and the laws.

Heeded should be the ‘New Deal’s’ ten priorities listed by Ramaphosa, which begin with placing the creation of jobs at the centre of every policy, programme and action.

But the South African economy will not create any jobs unless it grows and he spoke of massively increasing levels of investment to the National Development Plan target of 30% of gross domestic product.

He wants small and medium-sized enterprises placed at the centre of industrial, trade and other policies since they have the highest potential to create jobs, pointing to the National Development Plan’s calculation that agriculture has the potential to create a million new jobs by 2030.

He wants the country to be hauled out of the debt trap and returned to fiscal discipline to ensure that resources are directed to where they have the greatest developmental impact.

As with any other country, he wants the South African economy to reflect in every respect the demography of the country.

He wants mathematics and science to be compulsory to Grade 12 and for the country to provide free higher education for the poor.

He wants to expand manufacturing capacity with the help of a better Eskom, better energy price regulation, competitive port tariffs and investment in rail and road infrastructure.

Instead of building mega dams, he wants to prioritise the building of smaller cost-effective dams that can be built in reasonable time.

He wants State-owned enterprises properly governed, managed and operated for the bene- fit of the public and he is vocal about confronting corruption through the establishment of a judicial commission of inquiry.

It is all- important sentiment at this crucial time, when South Africa as a whole should unite to bring economic growth back to the forefront.