President Cyril Ramaphosa responding to oral questions in Parliament on Thursday.
President Cyril Ramaphosa has acknowledged that some of South Africa’s biggest investment commitments, particularly in renewable energy infrastructure and data centres, are not generating jobs at the scale needed to tackle the country’s deepening unemployment crisis.
Responding to oral questions in Parliament on Thursday, Ramaphosa defended the outcomes of the sixth South Africa Investment Conference, which secured R890 billion in investment commitments earlier this year.
However, he admitted that many of the country’s largest capital-intensive projects create relatively few direct jobs despite being critical for economic growth and energy security.
“Labour-intensive investments in global business services and financial services generate approximately 3,900 jobs per R1 billion invested,” Ramaphosa said.
