Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development, Parks Tau met with the MMC for Economic Development, Cllr Thomas Mofokeng to discuss the government’s approach post the unrest on the 1st of September 2021. The meeting was part of Gauteng Government’s round-table discussions to get inputs from all stakeholders.
MEC Tau shared that the Government’s approach and immediate set of initiatives have been approved as part of an economic relief plan for the affected SMMEs. Among these were;
That the Gauteng Township Economic Development Bill has passed EXCO and is being processed by the Gauteng Legislature.
The Gauteng Enterprise Propeller (GEP) and the Industrial Development Corporation (IDC) have allocated R100 million from the Township Economy Partnership Fund to a rapid deployment for township rebuilding efforts which will be matched by private sector contributions. The intent is to provide funding that will be 50% grant and 50% loans, with a cap of R1 million for smaller formal businesses in distress, and up to R50 000 for informal businesses.
In the discussions, the MMC for Economic Development, Cllr Mofokeng presented the City of Joburg’s economic recovery initiatives with a total package of R66m Rehabilitation Fund in support of small enterprises. MMC Mofokeng reaffirming said, “as the City of Johannesburg we are ready to cooperate and collaborate in a number of areas that will unlock investment into the city and create much-needed jobs. We are hopeful that these discussions will continue as we also want to tap into your knowledge.”
MEC Parks Tau has been on a stakeholder engagement roadshow to share the government’s plans for the affected small enterprises, intending to rebuild the Gauteng economy. “We have called this meeting with the City’s Department of Economic Development, as one of the key stakeholders that are central in our efforts to accelerate economic growth and recovery of the Province,” said Tau. MEC Tau mentioned that the government has identified facilities such as the Soweto Empowerment Zone for possible global business services where young people can be trained, thereby increasing their chances to access work opportunities.
MEC Tau added, “We are actively building and accelerating the Economy with the development of multi-tier industrial economic zones across all of the Gauteng City-Region as captured in the Gauteng vision 2030 #GGT2030.”
MEC Tau invited the City’s Economic Development to be part of workstreams currently based at the War-Room. “There are areas of collaboration that we need to take advantage of such as the Lanseria Smart City development which will have a population of 3,5m residents in the next 15 years,” adds Tau.
MEC Tau further elaborated that the Gauteng Township Economic Development Bill will be a game-changer for the City’s populous townships as it will unlock investments directly to them.
