Prepare for mass job losses, Ramaphosa warns

South Africans must brace themselves for mass job losses.

JOHANNESBURG - South Africans must brace themselves for mass job losses.

This is a warning from President Cyril Ramaphosa, who admits government has done little to improve the lives of the majority.

“Many more people are going to lose jobs," said Ramaphosa.

"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,” he said.

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The president was reflecting on 25 years of democracy at the University of Johannesburg.

While democracy has brought with it political liberties, economic freedom remains a pipe dream for many.

“Over the course of the last 25 years, we’ve thus been less successful in addressing the structural faults in our economy," he said. 

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"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.”

Current statistics aren’t looking good either.

The president promises what he calls “a skills revolution” as part of the solution.

Meanwhile, nearly 10 million South Africans remain unemployed and are waiting.

Source
eNCA