Africa’s richest province – Gauteng plans to launch a provincial state bank to fund Small, Medium and Micro-sized Enterprises (SMMEs), infrastructure development, township enterprises, women and youth businesses. This was revealed by Gauteng Premier David Makhura on Monday in his State of the Province Address (SOPA), which Makhura described as a speech that aims to create a “new dawn of hope, renewal and change for South Africa”.
The bank forms part of the province’s plan to turn townships into spaces “where there is a vibrant culture and dynamic local economies underpinned by state-of-the-art infrastructure”.
Other initiatives put on the table for this vision include:
Other highlights in Makhura’s SOPA include: