“President Cyril Ramaphosa launched Phase Three of the Government-Business Partnership in Johannesburg, setting ambitious targets of 3%+ growth and one million jobs by 2030. The plan expands into tourism, agriculture, mining, and infrastructure, while embedding irreversible reforms in energy, logistics, and governance.”
South Africa has entered a decisive new chapter in its economic recovery journey. On 20 August 2026, President Cyril Ramaphosa unveiled Phase Three of the Government-Business Partnership, a collaborative framework designed to accelerate growth, deepen reforms, and create inclusive opportunities. This initiative builds on the successes of earlier phases, which stabilized energy supply, improved logistics, and restored investor confidence.
Background: From Crisis to Reform
The partnership was born in 2023, amid rolling load shedding, collapsing rail and port infrastructure, and South Africa’s greylisting by the Financial Action Task Force (FATF). These crises eroded competitiveness and investor trust. Phase One focused on stabilization, ending load shedding and strengthening financial controls. Phase Two emphasized reform, embedding structural changes in energy, transport, and governance. By August 2026, South Africa had achieved 455 consecutive days without load shedding, Eskom reported its best energy availability factor in six years, and Durban Port was recognized globally as the most improved.
Phase Three: Growth and Transformation
Phase Three shifts the focus to growth and job creation. The government and business leaders agreed on a target of 3%+ GDP growth and one million jobs by 2030. Key sectors include:
- Tourism: Leveraging natural and cultural assets to attract foreign revenue.
- Agriculture & agro-processing: Expanding rural employment and food security.
- Mining: Unlocking untapped resources while ensuring sustainability.
- Infrastructure: Modernizing transport, logistics, and urban development.
- SMEs: Supporting black industrialists, women-owned businesses, and youth enterprises.
Inclusive Growth Imperatives
Ramaphosa emphasized that growth must be inclusive, reaching rural communities, townships, and smaller towns. The partnership prioritizes SMEs, black industrialists, and women entrepreneurs, ensuring that reforms translate into tangible livelihoods. Business leaders, including Martin Kingston of Business for South Africa (B4SA), affirmed that irreversible reforms in energy and logistics have created a foundation for sustainable expansion.
Governance and Accountability
Transparency and accountability remain central. Ramaphosa stressed that reforms are “irreversible”, ensuring continuity beyond political cycles. The partnership does not transfer government responsibilities to business but aligns capabilities: government governs and regulates, while business invests and innovates. Civil society and labor unions are also engaged, reinforcing a multi-stakeholder approach.
Risks and Challenges
Despite progress, challenges persist:
- Global economic volatility may affect exports and investment.
- Corruption risks require vigilance in procurement and project implementation.
- Youth unemployment remains high, demanding targeted interventions.
- Climate change pressures agriculture and mining, requiring sustainable practices.
Outlook
Phase Three represents a turning point. If successful, South Africa could transition from crisis management to sustained growth, positioning itself as a competitive emerging market. The partnership’s credibility rests on its ability to deliver jobs, investment, and transformation at scale.
Conclusion
The launch of Phase Three signals a bold commitment to inclusive growth and structural transformation. With energy stabilized, logistics improved, and reforms entrenched, South Africa now faces the challenge of converting progress into jobs and prosperity for all citizens.
