https://newsletter.en.creamermedia.com
Africa|PROJECT|Projects|Resources|Training
Africa|PROJECT|Projects|Resources|Training
africa|project|projects|resources|training

Treasury commits R157m to Jobs Fund projects

Treasury commits R157m to Jobs Fund projects

Photo by Reuters

26th February 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

A total of R157-million has been committed to projects within South Africa’s Jobs Fund in this year’s National Budget, which was delivered by Finance Minister Tito Mboweni on Wednesday.

However, the Jobs Fund requested that the R157-million only be released at a later stage, when the funds are required by implementing projects in order to roll out project activities and achieve the planned job creation targets.

Until then, government has indicated that the Jobs Fund will “continue to implement prudent fiscal discipline".

A significant portion of the Jobs Fund portfolio consists of projects in the agricultural sector. However, the severe drought experienced in South Africa has delayed planning activities such as planting, translating into consequences for the release of grant funding.

The Land Bank, which supports development and transformation of the agricultural sector, has agreed with the Jobs Fund to provide concessional credit and support to small- and medium-scale emerging farmers.

Currently, 8.2-million young people between the age of 15 and 34 are not in education, employment or training, and government has committed to helping them.

According to Mboweni, “raising skills and improving the matching of young people and jobs is an important focus of the Presidential Youth Employment Intervention”.

To date, Jobs Fund projects have created more than 175 000 permanent jobs and helped 21 000 people into internships and created 59 900 short-term jobs. Of these, about 65% went to the youth.

More details on the Jobs Fund and reprioritisation of resources to raise spending will be provided in the 2020 Medium-Term Budget Policy Statement.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 
Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.081 0.193s - 208pq - 2rq
Subscribe Now