by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) — PRESIDENT Cyril Ramaphosa says South Africa’s partnership between government and business is entering a new phase focused on accelerating economic growth, attracting investment and creating jobs.
Ramaphosa said the third phase, launched last week, aims to lift gross domestic product (GDP) growth above three percent annually and contribute towards the creation of one million new jobs by 2030.
Writing in his weekly newsletter, Ramaphosa said the partnership had helped address major constraints including electricity shortages, freight logistics and financial-crime concerns since its establishment in 2023.
He said South Africa had now gone more than 400 days without load shedding, supported by improved Eskom generation, increased private electricity generation and progress towards a competitive electricity market.
Port operations had also improved, while private operators had gained access to freight rail corridors.
The partnership further contributed to South Africa’s removal from the Financial Action Task Force grey list, followed by improved credit outlooks and ratings.
However, Ramaphosa acknowledged that economic growth remained insufficient to absorb the millions of South Africans seeking employment.
“While the work done to date has laid a firm foundation, our growth rate remains too low to absorb the millions of South Africans seeking work,” he said.
Phase Three will focus on three pillars: strengthening electricity and freight infrastructure; unlocking employment-intensive sectors such as mining, agriculture, tourism and infrastructure; and rebuilding confidence by tackling crime, corruption and poor municipal service delivery.
The President said government and business would also intensify efforts to create opportunities for young people through entry-level employment, public employment programmes and support for transitions into sustainable livelihoods.
Ramaphosa said the experience of the past three years demonstrated the importance of cooperation between the public and private sectors.
“Government brings an electoral mandate, regulatory authority and policy direction. Business brings investment, technical skills and resources,” he said.
He said aligning these capabilities around measurable objectives would help convert reforms into investment, growth, employment and shared prosperity.
— CAJ News