Treasury to manage jobs fund

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Jobless1 . File photo: Simphiwe Mbokazi.

Cape Town - A newly established centre within the National Treasury will be responsible for managing the Jobs Fund, a spokeswoman said on Friday.

Treasury spokeswoman Phumza Macanda said that after three successful funding rounds, the Jobs Fund would be transferred from the Development Bank of Southern Africa (DBSA) to the Government Technical Advisory Centre (GTAC).

The GTAC was created as an advisory and project management agency of the National Treasury and incorporated the former public private partnership unit and the technical assistance unit.

“The transfer will facilitate GTAC's support for the Jobs Fund, while allowing the DBSA to focus on its core lending and development finance responsibilities.”

To date, the Jobs Fund had approved funding for 91 projects totalling R4.96 billion in grant funding and facilitating the creation of over 160,000 jobs.

Macanda said the next phase of the fund would be a shift towards partnerships with larger intermediaries.

A fourth funding round will be announced towards the end of this year.

The Jobs Fund was established in 2011 and awarded grants to organisations through a competitive process. - Sapa

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