President Cyril Ramaphosa addresses the Government-Business Partnership Phase 3 launch in Johannesburg, South Africa, Aug. 20, 2026. (GCIS)

NNA News - President Cyril Ramaphosa and business leaders on Thursday launched Phase 3 of South Africa's Government-Business Partnership, setting a target of more than 3 percent economic growth and one million jobs by 2030. In his opening remarks, Ramaphosa praised the progress achieved by the initiative since its inception. “This partnership was born at a moment of crisis. Since then, it has become an instrument of inclusive growth and economic transformation,” he said.

The Government-Business Partnership was established during a period of severe economic pressure in 2023, when South Africa faced persistent power outages, disruptions to rail and port logistics, and rising concerns over crime. “Phase One was about stabilisation,” Ramaphosa said.

During Phase 2, South Africa recorded more than 365 consecutive days without load shedding. The phase also included the implementation of the Transnet Recovery Plan, increased freight rail volumes and technical support that contributed to South Africa's exit from the Financial Action Task Force grey list. “Phase Two was about reform,” and “Phase Three must be about growth,” he added.

The newly launched Phase 3 aims to build on these gains by targeting more than 3 percent GDP growth and creating one million jobs by 2030. “But growth of 3 per cent cannot be the summit of our ambition,” Ramaphosa said. “It is a necessary threshold from which we must advance towards higher, sustained and more inclusive growth,” he added. The new phase will expand the partnership's work in sectors including tourism, agriculture and agro-processing, and mining.

President Cyril Ramaphosa addresses the Government-Business Partnership Phase 3 launch in Johannesburg, South Africa, Aug. 20, 2026. (GCIS)

South African businessman and entrepreneur Adrian Gore told the forum that Business South Africa is intentional about the next phase. “Phase three is a deliberate step change, from removing constraints holding the economy back, to actively driving growth and centre South Africa where it can genuinely compete globally, grow and create jobs”.

Participants pose for a group photograph during the Government-Business Partnership Phase 3 launch in Johannesburg, South Africa, Aug. 20, 2026. (GCIS)

He further praised the partnership's structure around accountability and regular engagement. “The partnership is unique; it is a carefully governed structure; it has cadence in terms of meetings and has a clear focus on four streams.” Phase 3 therefore seeks to move the Government-Business Partnership beyond stabilising the economy and implementing reforms towards accelerating growth, investment and job creation. Its success will depend on sustained cooperation between government and business and progress in the sectors identified as priorities.