Govt protects South Africans from abject poverty – Malusi Gigaba

2014-02-21 11:49

Several government programmes have shielded South Africans in general from the harsh effects of poverty, Public Enterprises Minister Malusi Gigaba has said.

“Vulnerable South Africans like children and the elderly enjoy social protection in the form of free access to health care and other basic services and social grants,” he said today at the launch of the multi-million-rand Godisa supplier development fund in Pretoria.

“Through the decisive action of the past 20 years, particularly through the social wage, we have prevented millions of South Africans from sinking deep into abject poverty. We are, however, aware that social grants on their own do not generate sustainable incomes and cannot be a basis to grow our economy.”

The R165 million fund is intended to empower Transnet’s black-owned suppliers. The initiative is a collaboration between Anglo-American’s enterprise development arm Zimele, Transnet, and the Small Enterprises Finance Agency.

Gigaba urged state-owned and private-sector enterprises to invest further towards empowering black and young entrepreneurs.

“I think it [the Godisa fund] is a historic initiative and marks the start of higher levels of collaboration between key stakeholders in the South African economic sector to achieve our industrialisation and transformation objectives.

“I further challenge the private sector to implement more of these initiatives so that we can expand opportunities for black, young and female entrepreneurs to be able to pursue their objectives in the field of small business development,” said Gigaba.

Godisa is a Setswana word which means “to nurture or to grow”. The project will offer loans and capital advances for the development of Transnet’s black-owned suppliers in the manufacturing and services sector.

Over a 10-year period, R150 million will be used for investment financing and the remaining R15 million will be used to provide support services.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.