Today's Labour News

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employment thumb100 Business Report writes that the Jobs Fund, launched by the government in 2011 through a R9 billion disbursement, had allocated the full amount on 153 projects by the end of September last year.  

More than 118,867 new permanent jobs were created during the period.  In addition, some 56,660 unemployed individuals were placed in vacant permanent positions and 250,024 people benefited from work readiness and technical training, the National Treasury, which manages the fund, indicated on Friday.  The fund’s objective is to co-finance projects by public, private and non-government organisations that will contribute to job creation.  Between January and December last year, the fund supported 45 projects in the portfolio through grant funding disbursements.  The Jobs Fund Investment Committee said it believed the fund had demonstrated its value over eight-and a-half years, as public funds had been used innovatively to leverage R14.1bn from the Job Fund’s partners, towards job creation.  Initiatives supported by the fund cover a range of interventions, from microfinance to support for rural women, to guarantee schemes to crowd-in pension fund investments for the support of SME development, to agriculture support for smallholder farmers.  Projects included the Harambee Youth Employment Accelerator, SmartStart Early Learning Franchisee Development, Urban Agriculture Initiative, CCI and CareerBox’s Workforce Development Centre Project, and Phakamani-Creating Micro Jobs for Rural Women.

  • Read the full original of the report in the above regard by Edward West at Business Report


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