Gauteng looks to townships to help boost the economy and create jobs for citizens
19 Oct 2020
The Gauteng Provincial Government has released the Gauteng Township Economic Development Bill for public comment — new legislation which aims to help formalise township-based enterprises and provide support for such businesses.
Among other things, the Gauteng Township Economic Development Bill promotes buying goods and services from township-based businesses, and calls for the establishment of a fund to support economic development in Gauteng townships.
It also designates business activities reserved for citizens and those with permanent residency, and aims to regulate township-based enterprises in certain sectors.
The focus of the Bill will be on sectors that have rapid growth potential, particularly the ability to promote employment and exports.
“This new law will nullify all bylaws that inhibit, frustrate and suppress the operations of SMMEs and informal businesses in our province. This new law will create new conditions for SMMEs and township businesses to create wealth and employment as they grow and prosper,” Gauteng Premier David Makhura said in his State of the Province address on 25 February 2020.
This Bill is one of several important pieces of legislation in development that can have a significant impact on organisations and individuals in South Africa.
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