BizBulletin Newspaper

Page 1

MAY / JUNE 2022 ISSUE

10 GIG FREE DATA

ELECTRICITY HIKE

#10

GAUTENG PREMIER

SIGNS TOWNSHIP ECONOMY BILL

HOW TO DEAL WITH

PERSONAL CRISIS

BLACK EXCELLENCE GAUTENG PREMIER DAVID MAKHURA

SUCCESS IS NOT ACCIDENTAL

BEFORE 4 FOUR

CROSS WORD

BIZWORDS

The ground-breaking Township Economic Development Bill was officially signed into law by Premier David Makhura on Friday 29 April 2022. The Act is part of the Gauteng Provincial Government’s effort at establishing and formalising township businesses to be simpler, easier seamless and to promote a sustainable township economy via funding and infrastructure. “Today, I am filled with deep emotions as I sign into law a historic piece of legislation, the Township Economic Development Act. This Act is a timeless monument to the resilience & tenacity of towering pioneers of the Township Economy such as

Ntate Richard Maponya,” said Makhura. The Act is built on the Township Economic Revitalisation Campaign held between 2015 and 2016, in which SMMEs from over 50 high-density townships were consulted. Then, township businesses raised their challenges such as lack of access to formal markets, lack of proper commercial districts, land and affordable financial support for business expansion and formalisation. The new Act provides a regulatory framework that makes it possible for entrepreneurs living in townships to establish viable and thriving businesses, small

enterprises, and co-operatives in a less bureaucratic environment making it easy to climb the economic ladder. It introduces an enabling framework to ensure that township-based retail malls and supermarkets partner with local service providers and manufacturers in sourcing products. The Act establishes specific procurement rules and programmatic support that allows government and its main contractors to spend a certain percentage of their procurement spend on township-based enterprises or co-operatives. Addressing small business entrepreneurs at the Orlan-

do community hall in Soweto, Makhura said the by-laws enabled by this law also make it easier to incentivise the installation of broadband in township enterprise zones and empower township-based internet service providers. He added that the law will also outlaw the harassment of traders. “The law outlaws the harassment of informal businesses by law agencies that go around harassing mothers who are selling to generate income for their children. We know that it happens in the townships, but now there will be no government official arbitrarily coming to close down businesses.”

Continue Page 3


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.