The president is expected to speak about South Africa's ongoing measures to manage the spread of COVID-19 through the implementation of a risk-adjusted strategy.
South Africa was already in recession before the coronavirus struck in March.
He stressed their needed to be a fundamental shift in our thinking and our way of life, as we needed to take personal responsibility for our health and the health of others.
Ramaphosa said that the lockdown government imposed was "absolutely necessary".
"As the lockdown is gradually eased, life will slowly return".
"This week, our country reached a sad moment in the progression of the coronavirus pandemic, as we recorded our 219th death from the disease".
Without the lockdown, Ramaphosa added, South Africa's health facilities would have been overwhelmed and many thousands more people would have died.
Nine million screenings and 370,000 tests have been conducted to date.
"By contrast, countries like the United States, the United Kingdom, Spain, Italy and Singapore have between 2,400 and 4,600 coronavirus cases per million people", Ramaphosa said.
Ramaphosa has announced that there are now 12,750 confirmed cases of coronavirus in South Africa. "Our goal is to steadily increase economic activity, while putting measures in place to reduce the transmission of the virus..."
Ramaphosa thanked the US Government for the donation of 1,000 ventilators.
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The government's R200 billion Covid-19 loan guarantee scheme, which is part of the R500 billion relief package, has also started to process applications from small- and medium-sized businesses on Wednesday.
Those areas with high infection rates will remain at Level 4.
Parts of the country with the highest rates of infection will, however, remain on Level 4 lockdown.
Level Three will be introduced to most of the country by the end of May, he announced.
"We are now preparing for a further easing of the lockdown", he said.
Restrictions on retail and e-commerce during Alert Level 4 will be reduced by new rules soon, President Cyril Ramaphosa said on Wednesday night - but he provided no further detail. Some of our actions have been unclear, contradictory and sometimes poorly explained. "Where we make mistakes, we will continue to correct them", he said.