Key Takeaways
- Phase 3 of the Government‑Business Partnership targets 3 %+ economic growth and one million new jobs by 2030, focusing on mining, tourism, infrastructure, agriculture and the revitalisation of Johannesburg.
- Notable successes since the partnership began include 455 consecutive days without load‑shedding, an energy availability factor of 67.55 % for Eskom, and the Port of Durban being named the world’s most improved port.
- President Cyril Ramaphosa stressed that transformation must be viewed as an economic necessity, urging businesses to invest, expand production and create inclusive opportunities for women and black South Africans.
- The partnership’s credibility hinges on transparency, accountability and irreversible reforms, with Ramaphosa dismissing concerns of state capture and insisting that reforms cannot be rolled back.
- Despite progress, South Africa still grapples with low growth (1.1 % in 2025) and high unemployment (33.6 %), underscoring the urgency of disciplined execution in Phase 3.
Phase 3 Launch and Objectives
President Cyril Ramaphosa unveiled Phase 3 of the Government‑Business Partnership at Summer Place in Sandton, positioning it as the next decisive step toward sustainable development. The phase sets ambitious targets of over 3 % annual GDP growth and the creation of one million additional jobs by 2030. To achieve these goals, the partnership will concentrate on five priority areas: mining, tourism, infrastructure, agriculture and the specific renewal of the City of Johannesburg. Ramaphosa framed the initiative not merely as a policy exercise but as a collective imperative to unlock South Africa’s latent economic potential.
Tangible Gains from Earlier Phases
Since the partnership’s inception, South Africa has recorded 455 consecutive days without load‑shedding, with the last outage occurring on 16 May 2025. Eskom’s energy availability factor climbed to 67.55 %, its strongest six‑year figure, while unplanned outages fell by more than 5 GW year‑on‑year. In logistics, the Port of Durban earned recognition from the World Bank and S&P as the world’s most improved port in 2026, reflecting 2025 performance data. These improvements underscore the partnership’s capacity to deliver concrete infrastructure and operational upgrades when government and business align their efforts.
Historical Context: Crises that Prompted Collaboration
When the partnership was first launched, South Africa faced a confluence of crises: unreliable energy supply, deteriorating rail and port networks, and rising crime and corruption. Ramaphosa described the period as “a moment of great difficulty,” noting that rolling load shedding inflicted severe damage on businesses, households and public institutions, while weak logistics hampered exports and supply chains. The country’s greylisting by the Financial Action Task Force (FATF) further exposed deficiencies in anti‑money‑laundering and counter‑terrorism financing controls, eroding confidence in South Africa’s economic prospects.
Evolution Through Phases 1 and 2
Ramaphosa outlined the partnership’s trajectory: Phase 1 centred on stabilisation—addressing immediate energy and logistics bottlenecks; Phase 2 pursued structural reforms to improve governance and operational efficiency. Having laid that groundwork, Phase 3 must now translate stabilisation and reform into tangible growth and job creation. The president emphasized that the new phase will introduce additional sectors while continuing work on crime, corruption and youth unemployment, which have remained cross‑cutting priorities since the outset.
Sector‑Specific Focus for Phase 3
The next phase will direct resources and expertise toward mining, tourism, infrastructure and agriculture, identified as the economy’s primary drivers of employment and job‑rich growth. Simultaneously, a dedicated workstream will tackle the City of Johannesburg’s challenges, aiming to improve municipal services, attract investment and enhance urban livability. By concentrating on these sectors, the partnership hopes to leverage existing comparative advantages and stimulate broad‑based economic activity that can absorb the country’s large labour pool.
Transformation as an Economic Necessity
Ramaphosa called on businesses to view transformation not as a compliance checkbox but as an economic imperative. He urged firms with substantial capital reserves to invest, expand production, open new markets and develop local supply chains, thereby generating jobs. Highlighting the persistent under‑representation of women and black people in senior leadership, he argued that an economy cannot reach its full potential while a majority of its populace remains excluded from opportunity, decision‑making and ownership. Inclusive transformation, therefore, is presented as both a moral duty and a catalyst for sustainable growth.
Governance: Transparency, Accountability and Irreversibility
Addressing past critiques of potential state capture, Ramaphosa affirmed that the partnership’s credibility depends on how it delivers results, not just what it achieves. He pledged no special favours, no privileged access and no weakening of regulatory oversight, insisting that transparency and mutual accountability are essential to maintain public trust. Moreover, he declared that the reforms instituted thus far are irreversible, assuring stakeholders that they will endure regardless of future political shifts. This commitment aims to lock‑in gains and prevent policy reversals that could undermine investor confidence.
Implementation Mechanics and Private‑Sector Role
By August 2023, over 115 CEOs had endorsed the partnership’s pledge, a figure that grew to beyond 135 by year‑end. The model relies on businesses contributing funding, technical expertise and private‑sector discipline, while government supplies the institutional framework and political will needed to dismantle structural bottlenecks. Ramaphosa stressed that Phase 3 must be defined by disciplined execution, with clear timelines, performance metrics and joint monitoring mechanisms to ensure that commitments translate into measurable outcomes on the ground.
Remaining Challenges: Growth, Unemployment and Confidence
Despite the strides made, South Africa’s economy still records modest growth of 1.1 % in 2025 and unemployment has worsened to 33.6 %, indicating that confidence has not yet been fully restored. Ramaphosa acknowledged that while the partnership has rescued Eskom and Transnet from collapse, the broader macro‑economic environment remains fragile. He warned that without accelerated implementation of Phase 3’s growth‑oriented agenda, the country risks falling short of its job‑creation and investment targets, perpetuating socio‑economic disparities.
Outlook and Call to Action
Looking forward, the success of Phase 3 will hinge on the ability of government and business to sustain momentum, uphold the principles of transparency and accountability, and deliver on the promised sectoral interventions. Ramaphosa’s closing appeal was unequivocal: businesses must now convert their pledged capital into productive investment, and the state must continue to provide a stable, predictable environment for such investments to flourish. Only through this coordinated, inclusive effort can South Africa aspire to achieve the growth, employment and societal transformation envisaged for 2030.