Today's Labour News

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ramaphosa2BusinessLive reports that according to President Cyril Ramaphosa, the outcomes of the two-day jobs summit that ended on Friday were building blocks for the upcoming investment summit to be held in two weeks with the aim of raising R1.3-trillion in five years.  

He said investors had been eager to see what would emerge from the gathering that produced more than 70 interventions to deal with SA’s unemployment crisis.  Government, business, labour and community constituencies signed an agreement on Thursday, paving the way for initiatives meant to boost the economy and create jobs.  The new interventions that form part of the 80-page agreement include: a commitment by large corporations and government to buy local products; a more aggressive approach to increasing exports; interventions in agricultural value chains, especially fruit, grain and livestock; and support for small and medium enterprises.  Other interventions that have been under way for some time in sectors such as automotive, furniture, and metals and machinery, as well as already announced financing initiatives for black industrialists and farmers and agribusiness, are included in the agreement.  The Employment Tax Incentive scheme, which provides employers with tax breaks for hiring first-time, low-paid youth, will be extended for another 10 years.

  • Read this report by Theto Mahlakoana in full at BusinessLive
  • Read too, Jobs Summit lays foundation for revival of ailing SA economy, at The Citizen

Get other news reports at the SA Labour News home page