President Cyril Ramaphosa says at least 300 000 jobs will be created annually through the Youth Employment Service initiative.
He has officially launched the initiative in Johannesburg.
This is in partnership with the private sector and government to address the high rate of youth unemployment in the country.
Ramaphosa says after months of talks and negotiations with the CEOs Forum, the number could easily be increased to half a million jobs annually if all stakeholders in business come to the party and help create jobs for the youth.
He says in crafting and putting together this initiative, CEOs realised they need to put more practical effort into this.
He says: “I still believe it is still possible to wrap it up to half a million. If we could in the year create half a million jobs for young people, which if you were to extrapolate a little bit more, you could start at 750 000 and a million jobs.”