The Jobs Fund has launched a new funding round aimed at supporting innovative solutions that address critical employment barriers in South Africa’s green and informal economies.

Previous funding rounds have resulted in R7.4-billion being disbursed to Jobs Fund partners, resulting in the creation of 210 719 permanent jobs, 114 534 short-term jobs or internships and more than 63 000 small, medium-sized and microenterprises (SMMEs). It has also supported 16 000 emerging farmers.

National Treasury says this initiative comes at a time when unemployment, especially among the youth and women, remains a pressing challenge.

The fund is aimed at supporting creative, scalable interventions that will contribute to sustainable job creation and stimulate inclusive economic growth in high labour absorptive sectors.

Target sectors include the green economy, which comprises of sectors such as renewable energy and energy efficiency; sustainable agriculture and agri-tech; transport and green mobility; and waste and water management, as well as the informal economy, which includes street vending, small retail and manufacturing, care and repair work.

The grant amounts to a minimum of R5-million, and the application deadline is 15:00 on June 5.

Treasury says matched funding includes 1:1 for private- and public-sector partners or 1:0.5 for not-for-profit entities.

Additionally, proposals must demonstrate long-term financial and operational sustainability.

“The Jobs Fund invites proposals from the public-, private- and not-for-profit sector intermediaries that address key labour market barriers such as technology, enabling infrastructure, regulations, access to markets and funding, and poor working conditions,” says Treasury.

It notes that successful proposals must provide scalable, implementable solutions with measurable impact on job creation.

Treasury says the application should be completed through the online application form, noting that no late submissions will be accepted.