job creation

DBSA Approves R23.7 Billion for Infrastructure

South Africa is set to see new infrastructure projects funded with R23.7 billion from the Development Bank of Southern Africa.

The bank approved a total of R27.5 billion, of which 86.3 percent is dedicated to South Africa for infrastructure projects in the fiscal year ending in March 2012.

The DBSA also took responsibility for the implementation of a R9 billion ‘Jobs Fund’ to create more employment in South Africa and result in 150 000 new jobs.

ADB Invests in SMMEs to Overcome Poverty

The African Development Bank (ADB) says it has ploughed about R17.5 billion into small and medium businesses in Africa to create jobs and fight ‘endemic’ poverty.

Disclosing the figure at the Innovation Africa summit, which was held in Cape Town, the bank stated that the continent needs decisive and ambitious leadership, warning that poverty, poor infrastructure development and corruption all hamper the continent's development.

Could Material Reuse and Recycling be the Answer to Achieving the MDGs for Africa?

Much debate surrounds the real progress made by Africa to date with regards to attaining the Millennium Development Goals (MDGs). If the aim of having the MDGs was to encourage development by improving socio-economic conditions in the world’s poorest countries, why then, after over a decade of the initial meeting and with just under four years left to reach the set deadline, are the poorest nations still poor, and in some cases their conditions have even deteriorated since the turn of the millenium?

Jobs Fund Creates 108 000 Jobs

The Jobs Fund, which was established by Finance Minister, Pravin Gordhan, a year ago, is expected to create 108 000 jobs from its first year of activities.

Gordhan says that the fund is in ‘a piloting phase’ which will help government to understand what it needs before it diversifies and replicates what is taking place.

Meanwhile, head of project origination at the Development Bank of Southern Africa, Xolani Ndungane, which administers the fund, says that finding suitable projects has been more difficult than expected.

Social Enterprise Giving Hope to the Community

“After my son died, one of my employers’ children suggested that I come up with something to keep myself busy, so that it could help me heal. I loved sewing so I decided to start sewing”. These are the words of Martha Letsoalo, former domestic worker and now director of the Heartfelt Project, a growing presence in the field of hand-made South African crafts.

Partnership to Boost Job Creation

The South African office of the United Nations Development Programme (UNDP), Business Unity South Africa (BUSA) and the Black Business Council (BBC) have signed a memorandum of understanding to conduct global studies into local procurement before creating a programme that could boost job creation.

The groups say they decided to create a plan with tangible short-term goals because government’s goal of five-million new jobs in the next decade, contained in its New Growth Path strategy, is in jeopardy.

Broadband Migration to Create Jobs

The Department of Communications says that the 100 percent migration to broadband by 2020 will create one million jobs.

Communications Minister, Dina Pule's projections came at the time when Statistics South Africa announced that unemployment rose to 25.2 percent in the first quarter from 23.9 percent in the fourth quarter of last year.

Apart from the 23 500 jobs expected from the manufacture of set-top boxes in the 2012-13 fiscal year, Pule provided no detail on how these one million jobs will be created.

Time for Economies that Contribute to Job Creation

The global economic crisis could derail plans by the developing countries to meet the United Nations Millennium Development Goal (MDG) 1, target 1.B, of achieving full and productive employment and decent work for all, by 2015. The UN notes that the deterioration of the labour market, triggered by the crisis, has resulted in a decline in employment. It further acknowledges the reality that as more jobs are lost, workers are being forced into vulnerable employment and that more workers find themselves and their families living in extreme poverty.

Analysis of the New Growth Path

The New Growth Path’s (NGP) principal objective is ‘employment creation’. This is a good start, but what is most conspicuously absent is an international scan of the characteristics of countries that have succeeded at achieving high rates of economic growth and creating ‘millions of new jobs’.

The single most important lesson from the world’s experience is that countries with high or rising scores on the most important policy indices tend to outperform countries with low or falling scores.

Worldwide, prosperity and freedom tend to coincide.

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