9 interesting facts about President Ramaphosa's jobs pact

9 interesting facts about President Ramaphosa's jobs pact

- The Job Summit introduced SA to President Ramaphosa's job pact

- In this pact, the president makes a lot of big promises

- The aim of the pact is to secure jobs for more South Africans

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President Ramaphosa shared his jobs pact with South Africans at the Jobs Summit on Thursday.

In this pact, Ramaphosa outlined a number of things that he proposes to change and implement to give unemployment in SA a slow death.

The president's ideas include focusing on funding black businesses and moderating executive payments.

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Briefly gathered all the information available on the president's job pact and put into a brief list, for your convenience.

1. Focus on agriculture

President Ramaphosa did not mention land expropriation but he did talk about land. He says fresh food exports will become much more lucrative in the future.

By the President's prediction, exports could rise to R90 billion by 2030. He wants to support black and woman-owned farms so they can cultivate land better and help ease unemployment by expanding. A R600 million facility has been developed for new owners of distributed land.

2. Big numbers

The president did not aim low with his job pact. He wants drastic changes and for that to happen he has big ideas.

The aim is to have 275 000 new jobs every year over the next 5 years. Once again, the focus fell on black-owned businesses. Targeted investments and loans will be given by banks - up to the value of R100 billion over 5 years.

3. The 6% unemployment target is unlikely

The president wants to cut down unemployment to 6% by 2030. This is an unrealistic expectation, according to a report by News24. Even at 275 000 new jobs a year, this ideal could not be reached.

Unless some really extraordinary measures are taken, even more than those proposed by the President, will this be feasible.

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4. Unemployment erodes dignity

When President Ramaphosa spoke about the effects of unemployment, he spoke not as a politician, but as a fellow South African.

It diminishes the human ability to eradicate poverty, tackle inequality and working poor. It has a devastating effect on families and communities. It erodes dignity. As you look at unemployed people, they go around like zombies – aimless. They have their dignity destroyed and eroded.

Financial disclosure and lifestyle audits for civil servants

5. Civil servants scrutinised

The president is aware that government officials stand between South Africa and its employment hopes. By acting corrupt and not awarding business to South Africans that need it, unemployment is aided. President Ramaphosa wants lifestyle audits undertaken and full financial disclosure from government employees.

6. The reason for SA's crisis

President Ramaphosa dived a bit into the history of the country to explain why it is in the current situation.

Extreme unemployment is the product of an economy starved for decades of meaningful investment in its people through education. The structure of our economy which was built on the extraction of minerals and (to some extent it) remains untransformed.

7. Cut salaries, not jobs

An idea that the president calls revolutionary, is to make cuts on salaries rather than fire employees. While this is a noble idea welcomed by the public, it is sure to ruffle the feathers of those whose salaries could be in danger now.

8. A small start, but a start none the less

A new clothing factory that will employ 200 people will be opened in the Eastern Cape by the trade unions. This may be a small idea when compared to the president's other aims, but at least something will get done.

9. A timelined plan

Previously, ideas proposed at Job Summits withered away and died. This time, President Ramaphosa hopes to keep his plans alive by having a structured timeline for implementation.

The social partners have agreed that there will be a framework agreement that is both ambitious and realisable.

In conclusion

President Ramaphosa wants to make South Africa great again. He wants South Africa to come first. By supporting local goods and businesses, the president is convinced that South Africa can grow greatly.

The president said that if we do not buy goods made by South African hands, there will be no factories and no workers, as reported on by Briefly.co.za.

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Source: Briefly.co.za

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