DA Youth Leaders, Luyolo Mphithi and Pogiso Mthimunye, will lead a picket outside the Jobs Summit. File Image: IOL

CAPE TOWN - The Democratic Alliance (DA) Youth Leaders, Luyolo Mphithi and Pogiso Mthimunye, will lead a picket outside the Jobs Summit being held at the Gallagher Convention Centre.

According to a media statement, the DA Youth believe that the delegates attending the conference do not represent the youth nor do they have solutions for access to real, long-term jobs.

The DA Youth Leaders, will be accompanied by Activists and will be protesting to highlight youth unemployment.

A BOLD PLAN

President Cyril Ramaphosa yesterday announced a bold plan to stimulate employment that will see a partnership between corporations, labour, government and communities unlocking growth.

Ramaphosa, who unveiled a R50 billion stimulus package last month, estimated that an additional 275 000 jobs a year were likely to be created annually if the plan was implemented.

He told the two-day jobs summit held in Midrand, Johannesburg, that the 275 000 jobs were over and above the jobs that would have been created without these interventions, which was on average about 300 000 a year over the past four years.

Ramaphosa said that among the measures contained in the framework agreement signed by business, communities and labour yesterday was the need to mobilise finance on a far greater scale in a bid to build the country’s manufacturing capacity.

“The financial sector, as part of its transformation code, will invest R100 billion over five years in black-owned industrial enterprises. The government will work with the financial sector to develop facilities for financing at preferential rates and extended repayment terms,” said Ramaphosa.

He also said that, in addition to the government initiatives of R600 million, Agbiz and the Banking Association of South Africa had developed a blended finance model aimed at making additional funds available for beneficiaries.

-BUSINESS REPORT ONLINE