Job creation and unemployment are expected to take center stage when President Cyril Ramaphosa delivers the keynote address at the News 24 On The Record summit this morning.
The two-day summit began at the Cape Town International Convention Center (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 national dialogue Announced by President Ramaphosa, this News24 gathering comprises 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 launched by News24 and the Africa Centre, which consulted with approximately 60 influential South Africans from academia, business and civil society on concrete solutions that can be implemented to create five million jobs over the next decade,” the Presidency said earlier this week.
Commitment to tackle unemployment
During last month's State of the Nation Address (SONA), President Ramaphosa called unemployment “a matter of national concern”.
“That is why as we rebuild the economy, we are creating large-scale work and livelihood opportunities through public and social employment programmes.
“In places like Standerton in Mpumalanga Presidential Employment Incentive Creating work that matters, turning dumping sites into parks and empty yards into community gardens.
“The SA Youth Forum It has given millions of young people access to work and learning opportunities for the first time. Youth Employment ServiceA partnership between business and government has provided year-long work experience opportunities to more than 200,000 youth,” the President said at the time.
This year, the 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, the Expanded Public Works Program (EPWP) and the Presidential Employment Incentive. We will ensure they are better coordinated to provide income support, skills development and pathways to long-term work, especially for young people and women.
“To ensure no one is left behind, we are implementing the decision to increase the employment equity target of persons with disabilities in the public service to 7% by 2030 and to mandate a 7% preferential procurement target in all government and public entities,” President Ramaphosa said.
To further help young people acquire training and skills, the Government will also take steps to support workplace-based learning.
“(We will) increase the proportion of the skills development levy returned to employers, restoring it to the original level of 40%.
“We will transform the National Skills Fund into a more agile, results-driven tool that supports unemployed youth to access workplace experience and employment, while building on successful initiatives such as boost jobs“The President said.
Economic Development and Investment
The President said that South Africa's strength lies in its ability to develop its economy.
“For more than 15 years, our economy has experienced low growth. Now all our actions are driven by the need for rapid and inclusive economic growth to create more jobs and better quality jobs.”
The government is playing its role in this regard. Cabinet has approved a comprehensive implementation plan to promote growth and inclusion medium term development plan.
“Through this plan, we are working to revive growth by maintaining a clear and stable macro economic framework, investing in working infrastructure, creating a conducive regulatory framework that supports growth and enables competition, and creating conditions for companies to invest by creating a focused and forward-looking industrial policy.
President Ramaphosa said, “The foundation of this plan is investment, particularly in public infrastructure as well as labour-intensive growth sectors that are capable of growing in the future. These include the digital and green economy, where youth will find employment opportunities.”
A platform is already in place to bring investors to South African shores South African Investment Conference (SAIC).
The conference has raised some R1.51 trillion in investment pledges over the past five years – exceeding the R1.2 trillion target set by President Ramaphosa.
Earlier this week, Parks Tau, Minister of Trade, Industry and Competition, noted the success of previous summits.
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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 vital 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 investor sentiment in the country has improved.
in this form The country was removed from the graylist of the Financial Action Task Force (FATF) And modest but positive economic growth was recorded. South Africa also saw inflation stabilize, reforms begin to take effect, and receive an S&P Global credit rating upgrade – from BB- to BB with a positive outlook.
“In the last one and a half year, we have implemented industrial reforms in targeted sectors and encouraged the industry to generate employment.
“We have initiated market and export diversification through our Butterfly Strategy and are redesigning the transformation through the Transformation Fund and the B-BBEE policy review,” Tau said.
SAIC is expected to be held on 31 March 2026 at the Sandton Convention Centre. – sanews.gov.za