Delivering his State of the Nation address in the National Assembly, Ramaphosa said the team will comprise the presidency, National Treasury, Invest SA, and the department of planning, monitoring and evaluation.

"This is an important aspect of our work to improve the ease of doing business in South Africa, which is essential to attracting investment," he said.

"This team will report progress to Cabinet on a monthly basis."

South Africa is currently ranked 82 out of 190 ranked by the World Bank in its annual Doing Business Report. 

The president has set a target of moving to within the top 50 countries when it came to ease of doing business within the next three years.

African News Agency (ANA)