The Gauteng Provincial Government continues to march on it’s plans to revitalise the township economy. This is according to Premier Panyaza Lesufi, who delivered his first State of the Province Address this month. Plans are in accordance with the Township Economic Development Act, a golden thesis for Gauteng’s township economic development. Provincial Government has committed to use 60% of its R34 billion goods and services budget to support various township initiatives. It is looking at establishing a digital database (township business register) of all businesses in townships to help with local Government’s procurement efforts.

A financing model is also being finalised to allow township businesses to have their own bulk buying mechanism through the establishment of township-based warehouses and distribution centres, like the ones already launched in Katlehong and Mamelodi.

Also being adopted is a prototype for local retail outlets (spaza shops), so that they can be differentiated from those owned by foreign nationals. Reclaiming Township spaces for special events and Government social activities is also on the cards as a way of continuous support for the local economy.

The backroom economy has been a hot topic in recent years and Gauteng Government is set on upscaling the formalisation and growth of the Township property rental market. 40 loans to the value of R50 million have been approved for backroom property owners.

Roll out of the Gauteng Broadband Network is on-going and will provide reliable internet in the townships, making free WiFi available at strategic communities.

The Taxi industry plays is key economic enabler in Township and province has put together a Taxi Fund to the value of R20 million, as seed capital for the taxi association to raise money in the market.

SOURCE: GAUTENG PROVINCIAL GOVERNMENT