Job creation and unemployment are expected to take centre stage this morning when President Cyril Ramaphosa delivers the keynote address at the News24 On the Record Summit.
The two-day summit kicks off at the Cape Town International Convention Centre (CTICC) under the theme: '5 million jobs in 10 years'.
“The aim of the summit is to find practical solutions that will reach this employment target in 10 years.
“In support of the National Dialogue announced by President Ramaphosa, this News24 gathering involves small groups of expert practitioners in areas that have an impact on growth and jobs.
“The On the Record summit follows a nine-month research project undertaken by News24 and the Africa Centre to consult around 60 influential South Africans across academia, business and civil society on tangible solutions that could be implemented to create five million jobs in the next decade,” The Presidency said earlier this week.
A commitment to tackle unemployment
During the State of the Nation Address (SONA) last month, President Ramaphosa called unemployment a “a matter of national concern”.
“That is why as we rebuild the economy, we are creating work and livelihood opportunities on a large scale through public and social employment programmes.
“In places like Standerton in Mpumalanga, the Presidential Employment Stimulus is creating work that matters, turning dumping sites into parks and empty yards into community gardens.
“The SA Youth platform has provided millions of young people with access to work and learning opportunities for the first time. The Youth Employment Service, a partnership between business and government, placed over 200 000 young people in year-long work experience opportunities,” the President said at the time.
This year, government will also introduce regulatory changes aimed at making it easier for businesses to participate in the Youth Employment Service and create jobs for young people.
“In the coming year, we will expand our public employment programmes, including the Community Works Programme, Expanded Public Works Programme (EPWP) and the Presidential Employment Stimulus. We will ensure they are better coordinated to provide income support, skills development and pathways into longer-term work, particularly for young people and women.
“To ensure that no one is left behind, we are implementing a decision to increase employment equity targets of persons with disabilities in the public service to 7% by 2030, and to mandate a 7% preferential procurement target across all government and public entities,” President Ramaphosa said.
To further assist young people to receive training and skills, government will also move to support workplace-based learning.
“[We] will increase the proportion of the skills development levy returned to employers, restoring it to its original level of 40%.
“We will also transform the National Skills Fund into a more agile, outcomes-driven instrument that supports unemployed young people to access workplace experience and employment, building on successful initiatives such as Jobs Boost,” the President stated.
Economic growth and investment
The President noted that South Africa’s strength lies in its ability to grow the economy.
“For more than 15 years, our economy has experienced low growth. All our actions now are driven by the need for rapid and inclusive economic growth to create more jobs and better quality jobs."
Government is playing its part in this regard. Cabinet has approved a comprehensive implementation plan to drive growth and inclusion through the Medium Term Development Plan.
“Through this plan, we are working to revive growth by creating the conditions for firms to invest by maintaining a clear and stable macro economic framework, investing in infrastructure that works, creating a conducive regulatory framework that supports growth and enables competition, and a focused and forward-looking industrial policy.
“The foundation of this plan is investment, particularly in public infrastructure, as well as labour intensive growth sectors that are capable of future growth. These include the digital and the green economy, where young people will find employment opportunities,” President Ramaphosa said.
A platform to bring investors to South African shores already exists with in the South African Investment Conference (SAIC).
The last five years of the conference have raised some R1.51 trillion in investment pledges – exceeding the R1.2 trillion target set by President Ramaphosa.
Earlier this week, the Minister of Trade, Industry and Competition, Parks Tau, noted the success of the previous conferences.
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“To date, over R600 billion has already flowed into the economy, resulting in the opening of new factories, mines, and various other industrial facilities. These investments play a critical role in South Africa’s national goals of socio-economic development by creating sustainable jobs, reducing poverty, and addressing inequality,” Tau said.
The 2026 SAIC comes as the country boasts an improved investor perception.
This as the country was removed from the Financial Action Task Force (FATF) greylist and recorded marginal yet positive economic growth. South Africa also showed steadying inflation rates, with reforms starting to bear fruit and receiving an S&P Global credit rating upgrade -- strengthening from BB- to BB with a positive outlook.
“Over the past year and a half, we have implemented industrial reforms in targeted sectors and incentivised industry to create jobs.
“We have embarked on market and export diversification through our Butterfly Strategy and are redesigning transformation through the Transformation Fund and B-BBEE policy review," Tau said.
The SAIC is expected to be held at the Sandton Convention Centre on 31 March 2026. – SAnews.gov.za
