This announcement comes on the heels of the International Monetary Fund's report which positions SA at the forefront of the African economy.

Godongwana says the country's strong retail and telecommunications sectors, as well as its significant mining industry, as key drivers of economic stability and growth.

Godongwana pointed out that SA boasts the largest and most stable financial sector on the continent, capable of competing internationally.

"We are a mining jurisdiction, and what we need to focus on is how we can further strengthen the competencies where SA can truly excel," Godongwana says.

--SABC--