Social partners will sign the Framework Agreement for a Social Compact on Supporting Eskom for Inclusive Economic Growth at the 25th Annual National Summit of the National Economic Development and Labour Council (Nedlac) at the Hilton Hotel in Johannesburg on Tuesday.

Towards the end of 2019, the social partners at Nedlac started negotiating a Framework Agreement out of the recognition that the resolution of the energy crisis is one of the most important challenges facing South Africa.

The social compact sets out steps that each social partner commits to take, in supporting the stabilisation of Eskom so that there can be an efficient, reliable and affordable supply of energy, which is key to industrialisation, sustainable job creation and inclusive economic growth.

David Mabuza to deliver keynote address

Deputy President David Mabuza will attend and deliver a keynote address at the summit.

It is organised under the theme, “Social Compacting for Economic Recovery in the Time of COVID-19”, a clarion call for all social role-players to galvanise efforts to address the cumulative economic effects of COVID-19.

Government views Nedlac as an important vehicle and institution for the promotion of equitable participation and representative social dialogue.

The council is also an important platform to stimulate dialogue between government, business, labour and community constituencies towards finding a common goal to address the socio-economic challenges affecting the country.

Due to the risk adjustment measures on COVID-19, this year’s historic summit will be held virtually, whereas only key speakers and signatories of the social compact will be allowed at the venue.

The video below is a discussion on Nedlac’s role on the country’s economy: