Ramaphosa says the initiative proves that "no single sector of society can resolve South Africa's economic challenges in isolation".
President Cyril Ramaphosa. Picture: The Presidency
President Cyril Ramaphosa has warned that South Africa cannot afford to leave 8.5 million unemployed people behind, saying the third‑phase partnership between government and business must lift gross domestic product (GDP) growth above 3% and create one million jobs by 2030.
Earlier this month, Statistics South Africa’s Quarterly Labour Force Survey found that unemployment rose by 345 000 to 8.5 million in the second quarter of 2026, while employment fell slightly to 16.7 million.
The labour force expanded by 329 000 between April and June, underlining the urgency of Ramaphosa’s call for faster growth.
SA’s economic challenges
Writing in his weekly newsletter, Ramaphosa said the Government-Business Partnership proves that “no single sector of society can resolve South Africa’s economic challenges in isolation”.
He stressed that the partnership, launched in 2023, had already delivered results, including more than 400 days without load shedding, improved port operations and South Africa’s removal from the Financial Action Task Force grey list.
“These are real outcomes that demonstrate that social partnerships are more than meetings and presentations; they are practical, delivery‑focused mechanisms that achieve measurable results,” he said.
Phases
The first two phases of the pact focused on stabilisation and structural reforms, particularly in the electricity and logistics sectors.
The third phase expands the focus to industries with high employment potential – mining, agriculture, tourism and infrastructure – while also tackling crime, corruption and municipal service delivery.
Priorities include completing Eskom’s unbundling, expanding transmission lines, opening rail corridors to private operators, rolling out a new mining cadastre system, streamlining visa systems to attract tourists, and scaling up public‑private infrastructure investment.
Youth employment
Ramaphosa placed special emphasis on youth employment, promising expanded public programmes and incentives to help young people transition into sustained earning opportunities.
“We will scale up our work to create employment and livelihood opportunities for young people,” he said.
Success
He argued that success depends on aligning government’s policy authority with business’s investment and technical skills.
“When we align our capabilities around clear, measurable objectives, we move our country forward,” he wrote.
Ramaphosa concluded that the next stage of collaboration must deliver not just confidence, but real opportunity – turning reforms into prosperity that South Africans can feel in their daily lives.
