Speaking in Johannesburg on Thursday, Ramaphosa said the partnership was established in 2023 when SA was grappling with loadshedding, deteriorating rail and port infrastructure, weak investor confidence and greylisting by the Financial Action Task Force (FATF). “Phase One was about stabilisation. Phase Two was about reform. Phase Three must be about growth,” Ramaphosa said.
Ramaphosa said the next phase must ensure that economic gains are translated into tangible benefits for ordinary South Africans. “It must be about converting the progress we have made into investment, productive activity and jobs,” Ramaphosa said.
Ramaphosa highlighted progress made through cooperation between government and business over the past three years, particularly in energy, logistics, crime-fighting and youth employment. “SA has now gone for more than a year without load shedding,” Ramaphosa said.
Ramaphosa said power station performance has improved, substantial private-sector investment has been secured in electricity generation and important market reforms have been implemented.
In logistics, Ramaphosa said the decline in rail and port performance had been halted, while agreements with 11 private train operating companies had opened the door to a more competitive freight rail system.
Ramaphosa also pointed to SA’s removal from the FATF greylist in October 2025 as a major achievement that strengthened confidence in the country’s financial system.
Despite these gains, Ramaphosa acknowledged that economic growth remains below the level required to meaningfully reduce unemployment. “For the millions of South Africans who cannot find work, economic recovery remains an abstract idea,” Ramaphosa said.
Ramaphosa said government’s economic strategy includes the Plan for Growth and Inclusion, the Industrial Development Strategy 2026 and a target to mobilise approximately $168 billion in investment.
The third phase of the partnership will focus on inclusive growth, employment creation and investor confidence. “Confidence must lead to investment. Investment must lead to production. Production must lead to jobs. And jobs must lead to better lives,” Ramaphosa said.
Ramaphosa said tourism, agriculture, agro-processing and mining will become major focus areas because of their potential to attract investment, grow exports and create employment at scale.
Ramaphosa said tourism can rapidly create jobs across hospitality, transport, accommodation, retail and the creative industries.
In agriculture, Ramaphosa called for stronger agro-processing value chains, improved access to markets and support for a new generation of black commercial farmers.
Ramaphosa said mining remains central to the economy and that growing global demand for critical minerals presents an important opportunity for SA.
While expanding into new sectors, Ramaphosa stressed that work on energy reform, freight logistics, crime and corruption, and youth employment would continue.
Ramaphosa also called on businesses to invest more aggressively, support transformation and expand opportunities for small businesses, women-owned enterprises, black industrialists and young entrepreneurs. “Government cannot build this economy alone. Business cannot build it alone. Labour cannot build it alone. Civil society cannot build it alone,” Ramaphosa said.
Closing the launch, Ramaphosa said the success of the third phase would ultimately be measured by its ability to translate reform into jobs and shared prosperity. “Let us make Phase Three the phase in which confidence becomes investment, investment becomes jobs and growth becomes shared prosperity,” Ramaphosa said.
–ChannelAfrica–
