Cape town: President Cyril Ramaphosa says investment commitments secured through the South Africa Investment Conference (SAIC) are projected to create around 230,000 direct permanent jobs over time, as government intensifies efforts to tackle the country's structural unemployment crisis. According to South African Government News Agency, responding to oral questions in the National Assembly on Thursday, President Ramaphosa said the 6th South Africa Investment Conference, held in March, secured a total of R890 billion in investment commitments. President Ramaphosa highlighted that approximately R415 billion of the total came from private sector companies, while the remainder was pledged by development finance institutions and multilateral development banks. He further explained that out of the 81 confirmed private sector investments, 53 companies submitted employment declarations at the time of signing, projecting to create approximately 230,000 direct permanent jobs. The President noted that job creation r ates vary between sectors, with labour-intensive sectors such as global business services and financial services generating roughly 3,900 jobs per R1 billion invested. In contrast, capital-intensive sectors like renewable energy infrastructure and data centres produce between 13 and 248 jobs per R1 billion investments. President Ramaphosa mentioned that significant commitments from companies such as Sasol, MTN, Vodacom, and Coca-Cola Beverages Africa involve expansions of existing operations, which help sustain current jobs while gradually increasing employment. To ensure projects move from commitments to execution, all investment pledges are monitored through a quarterly implementation tracker. The President acknowledged the deeply structural nature of South Africa's unemployment challenge, stating that it cannot be resolved through investment attraction alone. He identified root causes such as skills mismatches, spatial economic concentration, slow growth of the formal private sector, and barriers to smal l business formation. The government's broader economic strategy includes infrastructure investment, industrial policy reforms, skills development, and efforts to remove barriers facing small businesses. President Ramaphosa also announced a new target to raise R3 trillion in new investment commitments over the next five years. In addition to discussing economic strategies, the President extended condolences to families affected by recent severe flooding across parts of the country, which resulted in at least 10 fatalities and thousands of displaced individuals. He expressed gratitude to emergency personnel, disaster relief teams, and community organisations assisting affected communities.