Keynote address by President Cyril Ramaphosa at the News24 ‘On The Record’ Summit, Cape Town International Convention Centre

Thursday, 19 March 2026

Programme Directors,
News24 Editor-in-Chief, Mr Adriaan Basson,
Distinguished Guests,
Ladies and Gentlemen,

We gather at this summit at a time of hope and promise for South Africa.

After years of stagnation, our economy has reached a turning point. Growth is improving, investment is expanding and more jobs are being created.

Our reform agenda has built up significant momentum, enabling growing confidence in our economic trajectory.

By implementing far-reaching reforms to our electricity sector, we have brought an end to load shedding and are creating an environment for businesses to invest and grow.

The performance of our rail system and ports is improving, enabling us to increase our exports and our revenues.

Our national debt has stabilised. We have generated a primary budget surplus for three consecutive years.

We are on track to spend more than R1 trillion on infrastructure over the next three years, leveraging even more private investment.

We have brought stability to key state-owned enterprises and restored sound governance, repairing the damage wrought by corruption and state capture.

Across the world, investors are looking at South Africa with renewed interest, as an emerging market with strong institutions, sound policy and a solid track record of reform.

The tangible improvements in our economic performance that we are experiencing now are the result of a sustained, multi-year effort to reform our economy and to fix what was broken.

Most importantly, these improvements are the result of collaboration between government and partners across society, of the recognition that our challenges cannot be resolved by the State on its own.

All of our efforts have been driven by the simple conviction that we can achieve more when we work together.

There is ample evidence for that conviction in South Africa's history. Indeed, it is what defines us as a nation and as a people.

We confronted the COVID-19 pandemic through partnerships, we overcame our energy crisis through partnerships, and we will also create jobs through partnerships.

We have sought to change the culture of the State: to build a government that is more open, more transparent, more willing to engage, to listen and to collaborate with others.

We have shown that it is possible to overcome even the most complex and difficult challenges through bold, coordinated action.

This summit brings together South Africans from all walks of life to share ideas and to forge solutions to advance a shared goal: to build a society that works for all its people and in which all people can find work.

One of our greatest strengths as a country is our vibrant media and civil society, engaged businesses and labour movements, and world-class experts and academics at the cutting edge of their fields.

It is through discourse and debate that we have been able to come up with unique approaches to the challenges that we face, and to show that there is always a way.

That is why we have embarked on a National Dialogue, to create a platform for South Africans from every part of our society to talk, to reinforce our common values and aspirations, and to chart a way forward for our country.

I therefore applaud and commend News24 for convening this summit in the spirit of our National Dialogue to discuss solutions to the persistent challenge of unemployment.

Creating jobs is the foremost priority of this government.

Our single greatest challenge is to translate positive economic momentum into jobs for the millions of South Africans who remain unemployed.

A job is more than just an income. It is about dignity, about confidence, about a sense of belonging and an ability to contribute to our community and our society.

The rate of unemployment in our country is unique. It has its roots in apartheid and an economy that was built for only a small part of its population. And it is the result of our inability to fully reverse this legacy of exclusion and to create jobs at scale.

Many young South Africans face the prospect of leaving school without a foothold in the economy, unable to lift themselves and their families out of poverty.

That is why we have placed jobs at the heart of our agenda - to give every young person in this country a chance at a better life.

To do this, we need more rapid and inclusive economic growth.

We know that growth creates jobs. When our economy has grown in the past, unemployment has reduced.

That is why we are focused on implementing economic reforms and creating an environment for businesses to invest.

Operation Vulindlela, which is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reform, has enabled us to address many of the key binding constraints on our economy.

It has made progress by focusing on a limited number of priorities with the greatest impact, developing clear, action-oriented plans, and enabling a coordinated approach across government to ensure delivery.

We are now turning our attention to the water crisis in many of our cities and towns.

Water is critical not only to sustain life, but also to enable economic and social development.

Without a secure supply of water, companies do not invest and jobs are not created.

Given the extent and complexity of this challenge, I have established a National Water Crisis Committee to oversee systemic reforms to address the dysfunction in many municipalities and to facilitate investment in water infrastructure.

Where municipalities have demonstrated that they are not able to provide water services, we will use our powers to intervene and ensure that responsibility for water delivery is assigned to someone who can.

We will confront the water crisis in the same way that we tackled load shedding: by acting with speed and resolve to implement a clear, evidence-based plan.

The reforms that we have embarked on are not easy and they are not complete.

The changes that people want to see in their lives are, for the most part, yet to materialise.

Yet we can now say with confidence that we are on the right track.

But growth on its own will not bring the millions of South Africans who are unemployed from the margin into the fold.

As we implement bold structural reforms to lift growth, we are also expanding support for the unemployed to sustain productive livelihoods.

We must continue to strengthen our social protection system to reach all unemployed South Africans with a basic level of support.

By redesigning the Social Relief of Distress Grant, we will ensure that those receiving the grant have access to a wide range of support to search for work and to sustain a livelihood.

Through the Presidential Employment Stimulus, we have created more than 2.5 million opportunities in public and social employment since 2020.

The stimulus has shown that public employment is not only about providing an income to those in need.

It is also about creating meaningful work that benefits communities while building skills and experience and enabling people to make a way for themselves in the economy.

The stimulus has placed school assistants in thousands of schools and supported the restoration of rivers and wetlands. It has helped community-based organisations employ people to strengthen the fight against gender-based violence.

In Bulungula in the Eastern Cape, the Social Employment Fund has created opportunities for 1,000 people to sustain food gardens for schools, ECD centres and the community as a whole.

In Standerton in Mpumalanga, the programme has turned illegal dumping sites into parks and transformed sits of neglect into clean public spaces.

These examples show that there is no shortage of work to be done - only a shortage of jobs.

Through the Presidential Youth Employment Intervention, we are supporting young people to grow their skills and enter the labour market through strong collaboration between government, non-profit organisations and the private sector.

There are now more than 5 million young people registered on SAYouth.mobi, an innovative platform that connects them to opportunities for learning and earning.

We need more companies to use SAYouth to hire young people, making use of the cutting-edge technology which the network has built to set them up for success.

Through a partnership with business, we have established the Youth Employment Service - known as YES - which has provided work experience opportunities to more than 220,000 young people.

I call on all companies to be part of the YES drive, to enable more and more young people to take their first step into the work environment - and to provide them with the skills and experience they need to succeed in the world of work.

As part of the effort to ensure that young people are equipped for work, we are reforming the skills development system to link training more closely to demand in the economy.

We are working to overhaul the SETA system and replace it with a fit-for-purpose system that enables young people to access jobs.

We must build on our strengths as a country to create jobs for the economy of the future.

We have one of the most sophisticated financial sectors in the world.

We can position South Africa as a destination for financial services companies to locate their African and emerging market operations.

We have among the best solar and wind resources in the world. By rolling out renewable energy at scale, we can build a strong platform for growth in a wide range of sectors, from green steel to new energy vehicles.

We have a thriving agricultural sector, producing high-value crops for the entire world. By expanding our export markets and supporting farmers to grow their production, we can create jobs in every part of our country.

Most importantly, if we are to truly address the unemployment crisis, we must support small businesses and the informal sector.

That is where we can create jobs at scale.

We must support businesses with potential to grow through capital, skills and market access, and by creating an enabling regulatory environmen
We are reviewing current legislation to reduce the administrative burden on small businesses and make it easier, not harder, for them to start and grow.

These actions represent a clear, focused strategy to position our economy for growth and to create jobs at scale.

However, for this strategy to work, we need a state that is capable of delivering and a society in which the rule of law is sacrosanct.

We are reforming our criminal justice system to restore public trust and equip law enforcement agencies to deal with organised crime and corruption.

Pervasive crime breeds fear and mistrust. It has both a devastating human cost and a direct economic impact.

It increases the cost of doing business and discourages businesses from investing.

That is why rebuilding our criminal justice system is as important for jobs as any employment programme.

We will complete the implementation of our action plan on the recommendations of the State Capture Commission, and undertake the corrective measures that may arise from the work of the Madlanga Commission.

We are focused on strengthening the Hawks, NPA and the SIU to bring perpetrators to justice, to recover stolen funds and to end impunity.

And we are advancing reforms to professionalise our public service and protect it from political interference.

We undertake all of these tasks at a time of great instability and uncertainty in the global economy.

The conflict in the Middle East looks set to exact a heavy toll on the economies of the world, increasing energy costs, disrupting supply chains, raising the cost of living and lowering growth prospects.

It is therefore essential that we proceed with urgency to drive the reform and transformation of our economy while identifying the measures we need to take to mitigate the effects of the conflict.

There is no doubt that we have wind in our sails.

It is up to all of us now, as South Africans, as one people with a shared future, to take our country to new heights.

We call on business, on labour, on civil society, on academics and on citizens to work together to drive this work.

Through this summit, News24 is helping to define a place for the media in this national effort.

We call on the media to be part of informing, empowering and mobilising society to realise the promise of our Constitution and the potential of our people.

It is by creating jobs that we will open the doors of opportunity to all, and build a society that is more equal, more stable and more united.

I look forward to the outcomes of this summit, and I thank each one of you for your commitment to and your love for our beautiful country.

I thank you.