Makhaya has been serving as President Ramaphosa’s economic adviser since April 2018. Between then and now, the country hosted a jobs summit as well as the South Africa Investment Conference (SAIC).
The summit was intended to rope in the private sector to help with the country’s high unemployment rate, while the SAIC was held to unlock private-sector investment, which has been on a downward trend for more than a decade.
Both events were on a give-and-take premise between the state and the private sector. The government promised to address policy shortcomings to create optimal conditions for investment and job creation.
Out of an estimated 40 million South African adults, only 16 million are in employment, according to the World Bank’s latest South Africa Economic Update. South Africa’s emerging-market peers – including Thailand, Vietnam, Romania and Turkey – fare better.
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