“Just a few days ago, the World Bank revised their projections for South Africa’s GDP growth this year to below one percent. We are determined to prove that projection wrong,” Ramaphosa said at the ANC’s gala dinner in Polokwane.

“Working together, by remaining focused on the task at hand, we will prove that our economy is both resilient and well-positioned to achieve higher levels of growth as the global economic environment improves.

Government was expanding investment sectors, such as automobiles, clothing and textiles, and manufacturing. “We are widening our ownership base through the black industrialist programme. More importantly, we are continuing with good fiscal management and ensuring that we are a government that lives within its means,” Ramaphosa said.

Government was working hard to build consensus between all key stakeholders, including business and labour, to help stabilise the economy, save jobs, and restore credibility and investor confidence.

“As we work to constrain public spending, we are determined not to cut back on critical social expenditure or reduce investments in vital infrastructure projects. We are placing renewed emphasis on land and agrarian reform to redress the injustices of our past, to create jobs and to guarantee food security,” he said.

Turning to the upcoming local government elections, Ramaphosa urged ANC members to “resist the seduction of power and the trappings of public office”.

The ANC remained the sharpest instrument for total emancipation in the hands of the toiling masses but it also carried with it great responsibility, he said.

It carried with it a responsibility to serve and to struggle selflessly and tirelessly to advance the interests of the people.

“As we enter the third decade of our democracy, we are proud of the progress we have made. We are also mindful of the challenges we face. We must remain conscious of the pitfalls of incumbency. We must remember that the ANC gets its mandate from the people. It carries the hopes and dreams of millions. The ANC exists to improve the lives of the people.

“We dare not betray the sacrifices of comrades, black and white, who lost life and limb in the noble cause to eradicate the oppression of one group by another.

“Through revolutionary conduct, discipline, and behaviour, we must resist the seduction of power and the trappings of public office,” Ramaphosa said.

Local government was not only about securing a mandate to govern, but also about involving people in changing their lives for the better.

Ramaphosa also called on South Africans to renew their shared determination to end racism. Racism offended people’s dignity and violated their rights.

“It is an assault on our common humanity. It is therefore important that we respond together to recent instances of racism, understanding that these are not isolated outbursts from disgruntled individuals.

“And so let us remember as we go into these elections and revive our economy that we can only and truly unite South Africa if we achieve equality in the opportunities and services we provide to all our people.

“Racism thrives through economic marginalisation and inequality. It is only through true socio-economic empowerment that we can take the bite out of racism,” Ramaphosa said.