South African President Cyril Ramaphosa has unveiled an economic stimulus package which he hopes will put the country back on a path of sustainable economic growth. The stimulus is meant to deal with the country's chronic unemployment and poverty. It targets agriculture, mining, manufacturing, telecommunications and infrastructure. CGTN's Angelo Coppola has more.

The stimulus package has cabinet sign-off and is following a multi dimensional approach. And It's over and above president Ramaphosa's 100BN dollar investment target he set several months ago.

PRAVIN GORDHAN SOUTH AFRICAN PUBLIC ENTERPRISES MINISTER "What we're doing here is showing that government is willing to lead, government is willing to act as a catalyst, government is willing to crowd in funds, both from its own reprioritisation but also from the private sector, which has made various commitments."

One of the big announcements from President Ramaphosa centred on the creation of a 30bn dollar infrastructure fund. There is foreign interest from international development finance institutions. But there's also local interest.

EBRAHIM PATEL S. AFRICAN ECONOMIC DEVELOPMENT MINISTER "Particularly the long term investors, life assurers and others, they need vehicles that are able to ensure a longer term return. Their horizons are 15 to 20, 25 years. So there's a good fit with infrastructure. And their challenge has been, their frustration has been that we have not developed the instruments to easily connect that supply of capital and our demand for capital."

PRAVIN GORDHAN SOUTH AFRICAN PUBLIC ENTERPRISES MINISTER "So that fund will give us the capacity to use existing government funds to crowd in from development finance institutions and from the private sector in South Africa and as he explained there will be various blended products in this. In some instances you might bring in an equity partner, in other instances, you might bring in a loan, and to whatever extent it's possible, we want to do it without government guarantees."

The criticism in the past has been that government has several well meaning plans and policies in place but falls short when it comes to coordination and implementation.

PRAVIN GORDHAN SOUTH AFRICAN PUBLIC ENTERPRISES MINISTER "We are not just talking about ideas any longer. We are talking about a project office, and implementation capacity being created both within government and with the private sector and a programmed way in which things get done. Because we've often been criticized for having good policies but not being able to implement them. And a lot of our focus now will be on implementation."

ANGELO COPPOLA PRETORIA, SOUTH AFRICA "From what we've heard today it appears that it's all systems go with the president and all the ministers who're supporting him ready to put plans into action. I'm Angelo Coppola for CGTN in PRETORIA, South Africa."