Our paper titled Economic transformation, inclusive growth and competitiveness: Towards an economic strategy for South Africa, draws lessons from fast-growing, emerging and sub-Saharan African economies. The paper speaks for itself, but in brief we argue that there are a number of important growth ingredients. Firstly, an efficient and capable state; secondly, prudent fiscal and monetary policy; thirdly, a competitive and flexible exchange rate; fourthly, a trade regime which promotes open and beneficial trade, particularly with the rest of the African continent; fifthly, a reimagined industrial strategy; sixthly, opening a network industries platform, that is transport, logistics and telecommunications. This means reorganising Eskom and other state-owned entities, SOEs; seventhly, lowering barriers to entry. Yesterday the President spoke at length to my colleagues and me about two difficulties that he has in life. One is that it took him three years to obtain a water licence on his property. Three years! And now it's taking him an endless amount of time just to flatten the ground outside his