The government of South Africa has committed over 2.5 billion rand to job creation projects through the Jobs Fund in the last four years. The fund aims to create 150 thousand jobs.
It says so far 50 thousand jobs have been created. In a briefing to parliament’s Standing Committee on Appropriations, Deputy Finance Minister Mcebisi Jonas said the private sector had bought into the idea and matched the funding Job Fund has managed to create 50 thousand permanent jobs of the targeted 150 thousand expected by 2016.
The Fund was set-up in 2011 to offer once off grants to small and medium sized enterprises. It has already approved 89 projects at a cost of nearly five billion rand.