South Africa’s Zuma says economy is “weathering the storm”

South African President Jacob Zuma said on Monday that Africa’s most industrialised economy was “weathering the storm” as he unveiled initiatives to accelerate growth include a private and public sector fund for small business.

South Africa’s economy is barely growing, hobbled by power cuts last year, low commodity prices, drought and political ructions that have unnerved investors.

Zuma was speaking after receiving a report from a government-business task team appointed in February to explore ways to kick-start economic growth.