We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

In a country afflicted with a stagnant economy that can hardly keep pace with population growth, as recently released figures from Stats SA show, SA’s economic situation can only be described as dire. Unemployment is at its highest level since 2008 at 29%, a rate that almost doubles to more than 56% when it comes to jobless youth.

This is politically dangerous given the vast inequalities in SA society, something acknowledged by President Cyril Ramaphosa in his state of the nation address in June. The speech was high on aspiration and made all the right noises towards business. In addition to promoting the existing Buy Local campaign, Ramaphosa spoke of creating 2-million jobs for the youth, and in consultation with key industries transforming SA from a mainly raw material exporter to a manufacturing hub with a focus on key value-adding industries. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now