Bill to boost Soweto economy signed in Orlando
Hailed as a game changer, the Township Economic Development Bill is aimed at promoting local economy.
Premier David Makhura officially signed the Township Economic Development Bill into law.
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The signing ceremony was held at the Orlando Communal Hall and was attended by local business owners, residents and officials from the Gauteng Provincial Government.
Hailed as a game changer, the Township Economic Development Bill is aimed at promoting and developing the township economy by creating a favourable environment for township based businesses to operate and grow.
Through this law, licensing for township businesses will be made easy while a fund will also be set up to help them through the Gauteng Township Economic Development Fund.
Makhura said through this new law, they want to promote entrepreneurship, skills development and productive activities in the townships.
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“For the past eight years, we have knocked on every door to make a case that township businesses need a special package of measures and special policy intervention to support the revitalisation, development and growth of township businesses,” said Premier Makhura.
Not only does the Township Economic Development Bill seek to promote the township economy but it will also protect and prioritise businesses owned by locals while creating jobs.
“We also want to integrate township businesses in the mainstream economy. That’s what transformation is all about. You can’t just remain in then township,” said Premier Makhura.
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Local business owners were invited to exhibit their products and services at the Communal Hall on the day of the official signing. MEC for Economic Development, Parks Tau said the signing of the new law marks a milestone in the government’s quest for economic emancipation of the previously disadvantaged.
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