The Minister of Labour, Mildred Oliphant, will on Friday, 14 December 2018, officially launch a R2 billion Fund aimed at generating thousands of jobs through creating and funding of small businesses and entrepreneurs.
The Project Development Partnership Fund (PDP) has been established through a joint venture between the Public Investment Corporation (PIC) and Unemployment Insurance Fund (UIF) – an entity of the Department of Labour. Through the partnership, the UIF will provide an annual allocation of R2 billion towards the PDP Fund through the UIF’s existing Social Responsible Investment (SRI) mandate.
The PDP Fund will be used for, amongst others, the following:
- Funding to create and grow small businesses, and establishing new companies;
- Starting companies in various sectors that will boost the South African economy; and
- Investing in projects which are solving socio-economic challenges in the country through technological advanced manners and projects which are aligned to 4th industrial revolution.
The PDP Fund is expected to create and support over 10 000 jobs.
Details of the event are as follows:
Date: Friday, 14 December 2018
Time: 9h00
Venue: Government Communication and Information Systems (GCIS) Auditorium, Tshedimosetso House, 1035 Francis Baard & Festival Street, Hatfield, Pretoria
Media enquiries:
Makhosonke Buthelezi
Cell: 071 491 7236
Sekgoela Sekgoela
Cell: 082 735 6307
