South African President Cyril Ramaphosa has pledged to accelerate economic reforms aimed at boosting growth, attracting investment and improving government efficiency in his state-of-the-nation address. The president outlined plans to streamline bureaucracy and create a more business-friendly environment to revive the struggling economy.

The announcement comes as South Africa faces persistent challenges including high unemployment, slow GDP growth and infrastructure constraints. Ramaphosa's commitment to reform signals an attempt to restore investor confidence after years of policy uncertainty and corruption scandals that have hampered economic development.

The president's renewed focus on efficiency and investment follows recent credit rating downgrades and pressure from international partners. His administration faces the difficult task of implementing structural changes while managing social tensions and political opposition to market-oriented reforms.