Mpumalanga’s Premier, Mandla Ndlovu, engaged with various stakeholders in pursuit of an inclusive growth and job creation plan as one of the key priorities of the 7th administration.
Ndlovu met with members of two of the country’s most prominent banks, Standard Bank and Nedbank on Thursday, August 15, at the Riverside government complex to table a plan for economic growth and reducing poverty and unemployment, He says the province has good prospects of creating between 100 000 and 150 000 jobs annually.
The Premier urged the banks to partner with government in support of economic growth programmes. “We urge you to invest in entrepreneurship and skills development for the youth to participate in business initiatives. Through your support, we can train and equip the youth to inculcate an entrepreneurship culture,” Ndlovu emphasized.
While agriculture is the backbone of the economy, Ndlovu said the green economy and tourism are also strategic areas for investment. His provincial Government Youth Development Fund is an example of promoting entrepreneurship and he urged the banks to invest in the fund. Ndlovu’s assertion is that banks should make access to funding and loans easier by reducing red tape for people with interest in business. “We are in the process of operationalizing the Mpumalanga Fresh Produce International Market. Many farmers will require funding to do business with the new market. Please help them. In this way, we will create business opportunities and create jobs to make the priority of inclusive growth and job creation, a reality,” Ndlovu said.
The banks expressed their commitment to support Mpumalanga’s economic growth plan. Nedbank is committed to finance training programmes for SMME’s and seed funding for graduates to initiate business enterprises. In addition, it would provide funding for low cost housing to those who cannot afford it.
Standard Bank also expressed its commitment to make application for funding easier, in addition to supporting programmes targeting unemployed graduates for entrepreneurial skills. A Memorandum of Understanding will be signed towards realization of the economic growth plan.
