Initiatives and agreements coming out of the jobs summit will lead to 275‚000 jobs a year‚ according to President Cyril Ramaphosa.

The country’s social partners comprising business‚ labour‚ government and community constituencies signed an agreement on Thursday‚ which contained several proposed solutions to the country’s unemployment crisis.

The framework will include what Ramaphosa said were “ambitious and realisable” solutions following months of intensive engagements between the social partners at the National Economic Development and Labour Council (Nedlac) on how to create and retain jobs.

He said the plan included the establishment of rapid-response teams of experts to assist businesses in crisis before workers are retrenched‚ the revival of the training layoff scheme‚ the promotion of South African exports and the mobilisation of finance for businesses at a greater scale.

“This time around we are determined to implement the various interventions that social partners have come up with … you may say this is just talk‚ it has been thoroughly processed‚ discussed over the past few months and I am satisfied that we have calibrated what needs to be done to embark on the various interventions‚” said the president.

Ramaphosa said the greatest challenge the country has faced thus far is a lack of co-operation between social partners‚ which makes it difficult to advance collective interests.

“[The] framework agreement gives us an opportunity to develop trust‚ demonstrate we are capable of developing a new social compact for jobs and growth. The summit is just the start of the process of serious engagement that will intensify in coming months‚” he said.

A presidential jobs committee made up of business‚ labour and community leaders will also be established to monitor the implementation of agreements made at the jobs summit.