Last week, President Cyril Ramaphosa unveiled a comprehensive plan aimed at reigniting South Africa’s economy and creating jobs during his opening of parliament speech. The newly formed Government of National Unity, a coalition of ten parties, will be at the helm of this ambitious plan.
A key focus of the government will be to attract foreign investment and support local businesses, and small enterprises. By streamlining bureaucracy and cutting red tape, Ramaphosa aims to create a more business-friendly environment.
We are resolved to intensify our investment drive, encouraging and enabling businesses to invest in productive capacity,
Ramaphosa says the government will prioritise sectors such as agriculture, tourism, and manufacturing to bolster job creation. A particular emphasis will be placed on value-added exports, shifting the country's reliance from raw materials to finished products.
We will focus on processing our minerals so that we export finished products rather than raw commodities
Presidential Youth Employment Initiative (PYEI)
Youth unemployment remains a critical challenge. The President reaffirmed the government's commitment to expanding job creation programmes for young people.
The Presidential Employment Stimulus, the Expanded Public Works Programme and other initiatives under the Presidential Youth Employment Intervention have provided income, work experience and skills development opportunities to many young unemployed.
Building on the success of the Presidential Employment Stimulus (PES), which created over 1.7 million jobs, the government will scale up initiatives to provide employment opportunities and skills development.
We will expand and institutionalise these programmes so that more and more young people can participate in job opportunities and skills development
