JOHANNESBURG – President Cyril Ramaphosa will on Wednesday morning meet with investors for the first time since the African National Congress (ANC)’s poorest victory at the polls.
Ramaphosa will attend a conference by global investment banking firm Goldman Sachs in Johannesburg.
The meeting comes just a day after Stats SA announced the country’s unemployment rate had risen to its highest level since the third quarter of 2017, sitting at 27.6%.
Ramaphosa will interact with chief financial officers and chairpersons of leading companies and institutions from South Africa and the rest of the continent.
The Presidency said that Ramaphosa would reiterate government’s commitment to achieving inclusive growth to boost the economy.
Economist Iraj Abedian said that Ramaphosa must stop talking and start acting.
“We’ve had 10 years of politics and destructive politics and the economy and society have been neglected. If you do the same thing expecting different results, then you will be disappointed.”
The president held a jobs summit last year, promising to create 275,000 jobs a year.
But with the latest unemployment rate now sitting at 27.6%, it appears Ramaphosa has not made good on his promise.