Deputy Minister of Economic Development, Madala Masuku, visited Bloemfontein, Free State, to interact with different stakeholders and discuss economic development initiatives.
He met local authority representatives and business operators to thrash out how best to implement and reach the targets the country has set itself as per strategic policies such as the National Development Plan and New Growth Path.
He told the local councilors in all projects undertaken by municipalities that key decision-makers must assess whether these projects would create more jobs for South Africans or not.
He also visited a number of small business operators to find out what their challenges were and how best the government could assist them to grow their businesses, so that they can make a meaningful contribution to the development of our economy.
View a selection of photos from the Deputy Minister's visit on EDD's FlickR page.
A new factory premises making fashionable women’s shoes was opened in Parow industrial area by Minister of Economic Development, Ebrahim Patel.
The factory, Chic Shoes, was started by a black woman, Rachmat Thomas in 2004 and now employs 300 workers. Minister Patel opened the new building that the company bought with the support of national government financing, to expand their manufacturing facilities.
“In the next two years, the company plan to expand with 240 more workers, creating a large new industrial capacity,” Minister Patel said. He recounted the strong partnership between the company and government, with funding provided by the Industrial Development Corporation (the IDC) and a production incentive grant made available from national government.
View more photos on Flickr
EDD ANNUAL REPORT 2013 | 14
EDD Knowledge Networks
Unemployment rate 25.4%
Absorption rate 42.6%
Participation rate 57.1%
Formal sector non-agriculture employment (q\q %) 1.5%
Formal sector non-agriculture gross earnings (q\q %) 4.6%
"Quarterly changes reflect an increase in employment (22 000) and a decrease in unemployment (3 000). This resulted in a slight decrease in the unemployment rate from 25,5% in quarter 2: 2014 to 25,4% (0,1 of a percentage point) in quarter 3: 2014.
Job gains were recorded in both the formal (88 000) and informal (28 000) sectors between quarter 2 and quarter 3. Large gains in the formal sector were observed in the Construction (66 000), Trade (48 000) and Mining (23 000) industries. In the informal sector, the largest gains in employment were observed in the Construction (33 000), Manufacturing (14 000) and Transport (10 000) industries over this period.
Employment declines were observed in the Transport (-25 000), Community and social services (-22 000) and Manufacturing (-18 000) industries."
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