Cyril Ramaphosa: South Africa must brace for massive job losses

Cyril Ramaphosa: South Africa must brace for massive job losses

South Africans must brace themselves for mass job losses, warns President Cyril Ramaphosa. The president issued this warning to the nation on the back of numerous factors that are going to contribute to a difficult economic climate for many.

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President Cyril Ramaphosa warns that Mzansi should brace themselves for mass job losses.

Speaking at the 25 Years of Democracy Conference, Ramaphosa admitted that the state has done little to improve the lives of the majority.

The president explained why this mass loss was somewhat inevitable, commenting that:

“Many more people are going to lose jobs. And they’ll lose jobs because of technology, globalisation, climate change and a whole number of challenges like low economic growth, as we have seen in our own country."

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READ ALSO: Ramaphosa - ANC failed to fix inequality, it's come back to haunt us

Ramaphosa explained that while democracy had brought political liberty, economic freedom remains nothing but a pipe dream for most. He admitted that the ANC had been 'less successful' in addressing economic 'structural faults'.

This has helped set the scene for the current grim economic outlook, with the forecast not looking any brighter for SA:

"In the end, and despite significant economic progress, in the years leading to the global financial crisis, unemployment has increased over the last decade, poverty levels have begun to rise again and millions of SA remain excluded through lack of assets, skills and networks.”

Ramaphosa's solution? The president has promised what he has dubbed a 'skills revolution' in order to combat this issue.

eNCA reports that nearly 10 million South Africans remain jobless, waiting for change in Mzansi.

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