Ramaphosa calls for bold reforms to create 5 million jobs in 10 years
President Cyril Ramaphosa has called for bold economic reforms and stronger collaboration between government, business, and labour to tackle South Africa’s unemployment crisis, describing job creation as the country’s most urgent priority.
Delivering the keynote address at the News24 On the Record Summit at the Cape Town International Convention Centre on Thursday, Ramaphosa said the ambition to create five million jobs over the next decade represents a defining moment for the country.
"We are gathering at a time of hope and promise, particularly as we focus on creating five million jobs in ten years."
He stressed that unemployment cannot be addressed without confronting the country’s past, warning that South Africa’s economic structure remains shaped by exclusion and inequality.
"To change the future, we must first understand the origins of our present, the river of the present does not flow from nowhere—it rises from the springs of our history."
The president said meaningful transformation is essential to unlocking growth and addressing inequality.
"Transformation should not just be a slogan. It must be a deliberate project to restructure the foundations of our economy and society. We must expand ownership and broaden participation if we are to grow."
Ramaphosa also highlighted the importance of strengthening local government, noting that economic activity largely takes place at municipal level.
"Economic activity does not happen at the Union Buildings—it happens at the local government level. If municipalities are weak, investment and job creation will suffer."
He acknowledged ongoing challenges in municipalities, particularly in water provision and infrastructure, and said government is working to address these weaknesses.
"We will confront the water crisis in the same way that we tackled load shedding—by acting with speed, with resolve, and with a clear plan."
Ramaphosa pointed to structural reforms in the energy, logistics, and water sectors as critical to unlocking economic growth.
"Absent these reforms, our economic prospects were facing south; now we are creating an environment where business can invest and grow."
On youth unemployment, the president said targeted programmes are helping, but more needs to be done.
"A job is more than just an income. It is about dignity, confidence, and a sense of belonging."
He called on the private sector to play a greater role in job creation, particularly through skills development initiatives.
"We need more companies to open their doors to young people and give them their first opportunity in the workplace."
Ramaphosa also stressed the importance of rebuilding the criminal justice system to improve investor confidence.
"Crime has a devastating human cost, but it also discourages investment and increases the cost of doing business."
He concluded by urging South Africans to adopt a more optimistic outlook.
There is no problem without a solution; all the challenges we face are opportunities for us to move forward."
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