Gauteng township economy revitalisation strategy 2014-2019
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Date
2020
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Publisher
Gauteng Province. Economic Development
Abstract
‘Township economy’ refers to enterprises and markets based in the townships. These enterprises are operated by township entrepreneurs to meet primarily the needs within and beyond the township and therefore can be understood a ‘township enterprises’ as distinguished from those operated by entrepreneurs outside the township. Township enterprises are diverse, with high rate of informality and provide a range of goods and services to meet the needs of township communities and beyond. Whilst township enterprises are mostly necessity micro in nature, characterised by poverty and low-incomes, there are many that were born out of opportunity. Both necessity and opportunity enterprises have produced successful black entrepreneurs who have ‘graduated’ from exclusively serving the township economy or trace their roots in the township economy. Meeting the social and economic needs of township communities, on the basis of co-operation and solidarity, has been one of the defining features of township enterprises. Government believes that township enterprises have a distinct and vital role to play in helping to create a vibrant socially inclusive, labour-absorbing and growing economy. Government’s vision is of vibrant and sustainable township enterprises as part of building an inclusive, labour absorbing and growing economy. Successful township enterprises can play an important role in helping to contribute to government’s programme of radical transformation, mordernisation and re-industrialisation of the Gauteng City Region economy by transforming townships into sites for productive activities, contributing to socially inclusive wealth creation and helping to foster sustainable livelihoods through job creation, social cohesion and active citizenship. Government is committed to ensure that township economy contributes at least 30% of the Gauteng GDP by 2030. The strategy sets out a programme of action for the next five years and beyond, illustrating how government together with key stakeholders will take a lead in revitalising the township enterprise activities. Key partners in the delivery of the strategy will include national government and its support agencies, provincial government, local government, the corporate sector, representative and support organisations for different types and forms of enterprises. Over the last 20 years, there has been a range of government support programmes aimed at micro, small and medium enterprises and co-operatives. These support measures are wide- ranging, combining both financial and non-financial support. In their variety, they aim to address a number of barriers common to all micro, small, and medium enterprises and cooperatives.
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Keywords
Entrepreneurship, Informal sector (Economics), Minority business enterprises, Gauteng (South Africa) -- Economic development