Bloomberg News reports that SA business leaders have told President Cyril Ramaphosa that the jobless rate could rise to 38.1% by 2030 without urgent action to solve the country’s energy, logistics and crime crises.

The forecast, which compares with a current unemployment rate of 32.9%, was included in a presentation made by business groups in a meeting with Ramaphosa on Tuesday. It was based on an average economic growth rate of 0.75% if no progress was made on those three impediments. SA business groups are working with the government to try and arrest the slump in energy provision and the deteriorating rail and port services. Those issues, coupled with rampant crime and corruption, are crimping growth in the economy. If the constraints were to be successfully addressed, the business groups, collectively known as Business for SA (B4SA), forecast that economic expansion would average 5% and unemployment would decline to 28% by 2030. The Presidency, together with B4SA and Business Unity SA, in a joint statement Tuesday announced progress made in introducing some of the initiatives to revive the floundering economy and restore investor confidence.

• Read the full original of the report in the above regard at Fin24

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