The bill, which will be implemented in stages at a cost of billions of dollars, was passed by lawmakers in 2023.
The law aims to provide healthcare to millions of poorer citizens in a major overhaul of a two-tier system, which still reflects deep racial and social inequalities three decades after the end of white minority rule.
Speaking to journalists in Cape Town on Thursday, Ramaphosa did not however provide any further details as to when this might happen.
The bill has been strongly opposed by business groups which say it will lead to disinvestment in the healthcare sector and damage South Africa’s already fragile economy.
Doctors with the South African Medical Association say they do not believe the bill will achieve what is sets out to do.
Business Unity South Africa (BUSA) and Business for South Africa (B4SA) said earlier this month that they supported moving towards universal health coverage but had reservations about the bill’s “design and implementation,” calling for it to be sent back to parliament for amendments.
The bill is popular among voters as South Africa heads into a competitive election year, but concrete changes are unlikely to come soon even once it is signed, analysts say.
“It will get bogged down in court for years,” said Louw Nel, senior political analyst at Oxford Economics Africa.