Today's Labour News

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IDCBusiness Report writes that a total of 18,206 new jobs are expected to be created and a further 2,675 jobs that would otherwise have been lost retained as a result of financing approvals in the year to March by the Industrial Development Corporation (IDC).  

CE Geoffrey Qhena said on Monday that supporting the creation of black industrialist remained a strategic imperative for the state-owned development finance institution.  Approvals for the programme increased 68% in the year to March to R4.7bn in 83 transactions, while youth-empowered and youth-owned businesses increased 137% to R2.3bn in 52 transactions.  Support for women-empowered businesses almost tripled to R3.2bn from R1.1bn.  Qhena also said the process to conclude the restructuring of the Scaw Group was being finalised and was expected to result in the introduction of strategic equity partners for its main operating divisions.

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