In two years’ time, the South African economy will create 825,000 direct and indirect jobs annually, by government projections. Trade and industry minister Rob Davies said the estimates were based on interventions devised by labour, business and government in the agreement at the jobs summit last week. President Cyril Ramaphosa also announced that the impact of the sectoral interventions for job creation and economic enablers for sector growth would lead to 275,000 direct new jobs in addition to the targeted 300,000 a year. The summit announced more than 70 interventions focused on local procurement, industrial finance and growth of SA exports in a bid to create jobs as the country’s unemployment crisis deepens. About 9.6-million people are without jobs. In a presentation on sectoral interventions creating employment at the summit, Davies said: "Based on a very conservative multiplier of two indirect jobs for every one direct job, we calculate that 550,000 indirect jobs will be crea...
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