Treasury grant initiative to pump R5m into untapped economies

National Treasury is looking to fund the next set of innovative businesses in the green economy, among others, through its Jobs Fund grant programme.

Now in its 12th funding round, the Jobs Fund is a R9 billion Treasury-managed initiative that seeks to support creative, scalable interventions that will contribute to sustainable job creation and stimulate inclusive economic growth in high labour-absorptive sectors.

Previous funding rounds have seen R7.4 billion disbursed to Jobs Fund partners, resulting in the creation of 210 719 permanent jobs, 114 534 short-term jobs/internships, and more than 63 000 SMMEs and 16 000 emerging farmers supported, according to Treasury.

Other entities to receive funding through the grant include the AfriGames Consortium, which is aimed at developing the South African gaming industry.

In a statement, Treasury says the new funding round aims to support innovative solutions that address employment barriers in SA’s green and informal economies.

The grant amount for this latest funding round equals R5 million, it adds.

Zoning in on the target sectors, Treasury notes the green economy refers to activities in renewable energy or energy-efficiency, sustainable agriculture or agritech, transport or green mobility, as well as waste or water management.

The informal economy includes street vending, small retail or manufacturing, care and repair work.

Treasury says it will accept proposals from the public, private and not-for-profit sector intermediaries that address key labour market barriers.

“Over 3.3 million people are employed in the informal sector; however, the sector remains underdeveloped compared to other emerging economies. Both the green and informal economy hold untapped potential for job creation, but face barriers such as skills gaps, financing challenges and regulatory issues.”

All applications must be submitted by 3pm on 5 June via the online application form.

For more information and user guidelines, click here.