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LED Programme: The Jobs Fund
Description
The Development Bank of Southern Africa, on behalf of National Treasury, is calling for government departments, municipalities, private sector and non-governmental organization within the borders of South Africa to submit proposals for funding through the JOBS FUND.
The objective of the Fund is to co-finance public and private sector projects that will significantly contribute to job creation. The Fund will operate on challenge fund principles. This means that project allocations will be based on an open, competitive process.
The aim of the fund is to operate as a catalyst for innovation and investment in activities which directly contribute to long-term employment creation.
Programme Background & Rationale
The Minister of Finance has entrusted the Development Bank of Southern Africa (DBSA) with the responsibility to establish and manage the Jobs Fund.
The bank has through its Agencies function, developed systems and processes to manage funds and programmes for a total of 33 agencies. These agencies range from government, DFI’s, regional and African Partnerships covering different sectors of the economy.
Objectives
The Jobs Fund is aimed at supporting initiatives that pilot new and up scale existing innovative approaches to employment creation, targeting the youth to acquire skills while being productively employed.
Expected Outcomes
The Fund’s activities include planning, financing and oversight of the implementation of job creation projects.
Current Status
The Jobs Fund was announced by the President during the State of the Nation Address on 10 February, 2011.
The first round for applications is open until 31 July 2011.
Timeframe
2011-2014
Budget
R 9,000,000,000.00
Contact
The Jobs Fund
1258 Lever Road Headway Hills
Midrand, Gauteng 1685South Africa
Phone:
086 100 3272
