Ramaphosa Urges Private Sector to Drive Economic Transformation

President Cyril Ramaphosa has challenged South Africa’s business leaders to intensify efforts toward economic transformation, calling for a collective push to reduce inequality and expand opportunities for all citizens.

Addressing a national economic dialogue in Johannesburg, the President stressed that meaningful inclusion—not just compliance—is critical for the country’s stability and growth. “We need an economy where every South African, regardless of background, can participate and benefit,” he said.

With unemployment remaining high, particularly among youth and women, Ramaphosa highlighted the need for structural reforms to ensure broader economic participation. He urged businesses to move beyond symbolic measures and actively support black industrialists, skills development, and investment in underserved townships and rural areas.

The call comes amid persistent public frustration over slow progress in addressing poverty and inequality. While South Africa’s GDP has shown modest recovery, wealth disparities remain entrenched.

Business representatives responded with mixed reactions, with some committing to accelerate transformation while others sought clearer policy direction from government.

Ramaphosa framed inclusive growth as both a moral duty and an economic necessity: “A fairer economy isn’t just about justice—it’s about unlocking South Africa’s full potential.” He closed with a rallying cry: “Together, we must build prosperity that leaves no one behind.”