Ramaphosa Cites Rating Upgrade and Eskom Turnaround in New Year Message, Acknowledges Unemployment Burden
PRETORIA, 31 December 2025. President Cyril Ramaphosa delivered his annual New Year message on Wednesday, citing South Africa's first sovereign credit rating upgrade in nearly two decades, the elimination of load shedding for most of 2025, and improvements in rail and port operations as...
Ramaphosa Cites Rating Upgrade and Eskom Turnaround in New Year Message, Acknowledges Unemployment Burden
PRETORIA, 31 December 2025. President Cyril Ramaphosa delivered his annual New Year message on Wednesday, citing South Africa's first sovereign credit rating upgrade in nearly two decades, the elimination of load shedding for most of 2025, and improvements in rail and port operations as indicators of progress, while acknowledging that unemployment, poverty, the high cost of living, and gender-based violence continued to impose severe burdens on millions of South Africans.
"South Africa's sovereign credit rating has been upgraded for the first time in nearly two decades, which means government can mobilise funding for infrastructure investment and social development at a lower rate," Ramaphosa said. He also noted that Eskom's performance had improved to the point that the country had "gone without load shedding for many months" and that more goods were being transported by rail and through ports, with additional commuter rail corridors restored.
The president highlighted that for the first time, more than R1 trillion had been budgeted for infrastructure investment over the next three years, and that the Youth Employment Service had created more than 200,000 work experience opportunities for young, unemployed South Africans.
On the international front, Ramaphosa cited the successful hosting of the G20 Leaders' Summit in Johannesburg in November, where the Leaders' Declaration included commitments on inclusive economic growth, debt sustainability, climate action, food security, and reform of global financial institutions. He described the summit as having elevated Africa's voice in global decision-making.
The president acknowledged, however, that "the year behind was not easy." He said unemployment and persistent poverty and inequality remained "matters of concern," that high living costs had imposed "huge burdens on South African households," and that many communities continued to live under the shadow of violent crime and inadequate service delivery.
Ramaphosa called on South Africans to unite and urged government, business, labour, civil society, and citizens to work collectively toward a more prosperous 2026.
South Africa's New Year is a public holiday. Parliament is in recess during December and January, resuming in February for the State of the Nation Address.