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The Citizen reports that a total of 26 million people in rural communities under the control of traditional leaders nationwide stand to benefit in terms of jobs and economic empowerment in a first of-its-kind rural development scheme.
The scheme, undertaken in conjunction with the National Council of Traditional Leaders, is aimed at bringing the rural masses into the mainstream of the economy, in line with the government’s rural development policy. The ambitious project will be driven by a new investment entity, United Royal Kingship Holdings (URK), which is due to be launched by Deputy President Cyril Ramaphosa in Johannesburg on Friday. A total of 829 traditional leaders will attend on behalf of their subjects. The new entity is wholly owned by the seven official kingdoms of SA. According to URK CEO Groovin Nchabeleng, the initiative was born out of the need to create a vehicle for rural people to participate in the mainstream economy. URK’s investment portfolio will include financial services, agriculture, agro-processing, mining, infrastructure development, tourism, health, manufacturing and retail.
- Read this report by Eric Naki in full at The Citizen
- See too, Traditional leaders and private sector set up company to boost jobs in rural areas, at TimesLive
Get other news reports at the SA Labour News home page