President Cyril Ramaphosa delivers his State of the Nation address in the National Assembly on Friday evening. PHOTO: Phando Jikelo/ANA Photo
Parliament - A plan on how government will fund free higher education for students from households with a combined annual income of up to R350 000 will be announced during next week's budget speech, South African president Cyril Ramaphosa said on Friday.

Delivering the State of the Nation Address, his first after succeeding Jacob Zuma, Ramaphosa said his predecessor's announcement in December last year would be implemented as part of phasing in subsidised higher education.

"The Minister of Higher Education and Training will lead the implementation of this policy, while the Minister of Finance will clarify all aspects of the financing of the scheme during his Budget Speech next week," Ramaphosa said.

"In addition to promoting social justice, an investment of this scale in higher education is expected to contribute to greater economic growth, reduce poverty, reduce inequality, enhance earnings and increase the competitiveness of our economy."

African News Agency/ANA