Maile says over R1bn has been invested in Gauteng’s township economy
Speaking at the South Africa-Davos feedback session on Thursday, Maile says the township economy generates approximately R200 billion annually, making it a vital component of the country's economic landscape.
Gauteng Finance MEC Lebogang Maile. Picture: @GautengProvince/X
JOHANNESBURG - Gauteng MEC for Finance and Economic Development Lebogang Maile has emphasised the critical role of the township economy in driving South Africa's economic growth and development.
Speaking at the South Africa-Davos feedback session on Thursday, he said the township economy generates approximately R200 billion annually, making it a vital component of the country's economic landscape.
Maile said to capitalise on this potential, the Gauteng government has invested significantly in the development of the township economy through legislative instruments, financial and non-financial support, and various programmes.
ALSO READ: Township economy is more than just spaza shops, says Mashatile
Maile highlighted the importance of supporting township enterprises, citing the potential to create jobs, stimulate local economies, and reduce poverty and inequality.
"Through the Township Enterprise Fund, as well as other mechanisms, including linking Gauteng township manufacturing enterprises to the Black Industries Fund, over one billion [rand] has been invested in the township economy.”