The Gauteng government is in the process of overhauling under-performing economic development agencies.
The leadership has expressed concerns about the agencies' performance and ability to drive economic growth. The agencies are:
- Gauteng Growth and Development Agency;
- Gauteng Partnership Fund;
- Gauteng Funding Agency; and
- Gauteng Management Agency.
During a question-and-answer session at the provincial legislature yesterday, Gauteng premier David Makhura said the "review of all agencies" would result in an overhaul of the Gauteng Enterprise Propellor (GEP).
The GEP is a provincial organisation that provides funding and non-funding services to emerging entrepreneurs.
"We want to reposition GEP so . it can support small and medium enterprises, including the informal economy, so that we could grow industrialists.
"We can't [grow informal traders] with an agency that is not properly positioned," he said.
"There was a lot of money [from financial institutions] that can be marshalled towards growth of supporting SME sector."
Makhura was speaking in the Gauteng legislature after he presented the integrated provincial audit outcomes for 2014/2015.
Sowetan's sister publication Business Day last week reported that 212 businesses have failed to pay back R100-million dating back to 2008.
Economic development MEC Lebogang Maile told Sowetan that the review panel, which comprised nine people, was chaired by former City of Joburg municipal manager Pascal Moloi.
"The review has been concluded and we will be releasing the review document to the public in the coming few weeks," Maile said.
"We want the entities to be more efficient and responsive. We are, however, yet to look at the full report. We are busy studying the report and have already started implementing some of the recommendations.
"We want the agencies to help to structure partnerships with the private sector and raise more resources for economic development projects as SMEs are always complaining about funding," he said, adding that funds would also be used to give market access to emerging entrepreneurs.
Funding agency overhaul
The Gauteng government is in the process of overhauling under-performing economic development agencies.
The leadership has expressed concerns about the agencies' performance and ability to drive economic growth. The agencies are:
- Gauteng Growth and Development Agency;
- Gauteng Partnership Fund;
- Gauteng Funding Agency; and
- Gauteng Management Agency.
During a question-and-answer session at the provincial legislature yesterday, Gauteng premier David Makhura said the "review of all agencies" would result in an overhaul of the Gauteng Enterprise Propellor (GEP).
The GEP is a provincial organisation that provides funding and non-funding services to emerging entrepreneurs.
"We want to reposition GEP so . it can support small and medium enterprises, including the informal economy, so that we could grow industrialists.
"We can't [grow informal traders] with an agency that is not properly positioned," he said.
"There was a lot of money [from financial institutions] that can be marshalled towards growth of supporting SME sector."
Makhura was speaking in the Gauteng legislature after he presented the integrated provincial audit outcomes for 2014/2015.
Sowetan's sister publication Business Day last week reported that 212 businesses have failed to pay back R100-million dating back to 2008.
Economic development MEC Lebogang Maile told Sowetan that the review panel, which comprised nine people, was chaired by former City of Joburg municipal manager Pascal Moloi.
"The review has been concluded and we will be releasing the review document to the public in the coming few weeks," Maile said.
"We want the entities to be more efficient and responsive. We are, however, yet to look at the full report. We are busy studying the report and have already started implementing some of the recommendations.
"We want the agencies to help to structure partnerships with the private sector and raise more resources for economic development projects as SMEs are always complaining about funding," he said, adding that funds would also be used to give market access to emerging entrepreneurs.
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