The employment stimulus has created 8000 jobs since it was first introduced by the President in 2020.
The stimulus was launched in October 2020, in response to the impact of Covid-19 on the country's economy.
Through the Presidential Employment Stimulus, government has created various employment opportunities in the public sector.
In his weekly newsletter, President Cyril Ramaphosa said one condition for the stimulus is to source inclusive hiring aimed at marginalised youth.
“The industry has committed to use SAYouth.mobi, a platform for young people to access a range of opportunities, as a tool to recruit young people into these jobs. The platform forms part of the Presidential Youth Employment Intervention.
"The result of all these efforts is that the sector in South Africa has grown at twice the global growth rate for the sector since 2014 and three times faster than key competitors. It has added 40,000 jobs to the economy since 2018, with young people making up 82% of these new jobs and women comprising 65% of the workforce.
"The sector generates R1.9 billion a year in export revenues and attracts significant capital investment. With global demand on the rise, and with a compelling and competitive proposition to global buyers and investors, the sector in South Africa is on track to achieve its target of 100,000 new jobs by the end of 2023 and 500,000 new jobs by the end of 2030." said the President.
The President said the country has economic potential and government is working to remove economic restraints.
"We have proven that by actively searching for areas of opportunity, setting clear national goals, working collaboratively with industry associations and social partners, and putting the right conditions in place for growth, we can unlock new potential and create jobs for young people in particular
"Through the various initiatives that we are undertaking – including Operation Vulindlela, the Presidential Employment Stimulus, the investment drive and the finalisation of sector master plans – we will remove constraints on investment and stimulate employment creation at an accelerated pace." said the President.