Growing the economy and jobs
Government’s immediate priority is to ensure positive economic growth that will encourage business development and provide more opportunities for employment, especially for women and young people.
Our intent is to leave no one behind.
Since the roll-out of the Economic Reconstruction and Recovery Plan in 2020, a broad range of programmes and policies have been put in place to support the growth of small businesses, develop infrastructure for faster economic growth, encourage investment from inside and outside of South Africa.
Government’s initiatives in job creation are producing positive results and steady growth in employment.
The results of the Statistics SA Quarterly Labour Force Survey (QLFS) show that, compared to a year ago, total employment had increased by 979 000 persons (or 6,2%).
The number of employed persons increased by 399 000 to 16.7 million in the third quarter of 2023.
The results further confirm that this was the eighth consecutive increase in employment since 2021.
We have laid a firm foundation based on the commitments we made for faster growth through our investment drive, economic reforms, public employment programmes and an expanding infrastructure programme.
President Cyril Ramaphosa
SONA 2024 HIGHLIGHTS
We are overhauling the freight rail system by allowing private rail operators to access the rail network.
Transnet has appointed an international terminal operator to help expand and improve its largest terminal at the Port of Durban.
Through the Presidential Employment Stimulus, more than 1.7 million work and livelihood opportunities have been created.
Through the stimulus, more than 1 million school assistants have been placed 23,000 schools.
Over 4.3 million young people are now registered on SAYouth.mobi and 1.6 million have so far secured opportunities.
The number of South Africans in employment increased from 8 million in 1994 to over 16.7 million now.
Over the last two years, the number of jobs being created has been increasing every quarter, and we now have more people in employment than before the pandemic.
Through the revived renewable energy programme, we have connected more than 2,500 MW of solar and wind power to the grid over the last five years.
Through tax incentives and financial support, we have more than doubled the amount of rooftop solar capacity across the country in just the past year.
Regulatory reforms to enable private investment in electricity generation has resulted in more than 120 new private energy projects now in development.
Financing pledges for the Just Energy Transition Investment Plan have increased from around R170 billion to almost R240 billion.
The auction of broadband spectrum has resulted in lower data costs and improved network reach and quality.
New regulations to reform our visa system have been published to make it easier to attract the skills that our economy needs for further innovation and entrepreneurship
Participation of previously disadvantaged black people in the mining sector is increasing. Black ownership stands at approximately 39 percent when compared with 2 percent in 2004.