Regional Focus: Gauteng

Increasing The Golden Reserve

Gauteng, the ‘ place of gold’ is also the economic powerhouse of South Africa. While Gauteng's history is rooted in gold discovery, today it boasts top-notch infrastructure and a diverse population of over 15-million people, making it one of Africa's wealthiest provinces and the entertainment hub of South Africa.

The province now leads the nation's economic landscape, boasting a resilient economy and the highest employment rate with around 5-million jobs. “Despite the job losses during the devastating COVID-19 pandemic, our economy remained resilient, and we rebounded with over 449 000 jobs," – Premier Panyaza Lesufi.

In the past year alone, Gauteng created an impressive 96 300 jobs, including 31 300 in the last 90 days since December 2023, solidifying its status as the economic nucleus of the country. Premier Panyaza Lesufi highlighted the province's success in attracting over R68 billion in investments from 261 foreign companies, generating 23 000 direct jobs across diverse sectors. Emphasising a diversified and robust economy, Premier Lesufi discussed the strategic economic development agenda of the 6th administration.

Notable Achievements Include

Tshwane Automotive Special Economic Zone (TASEZ):

• Ford Motor Company has invested a significant R15.8billion in the zone

• Partnerships with BMW and YFPO contribute an additional R2-billion to the zone

Gauteng's commitment to addressing youth unemployment is evident through initiatives like the Nasi iSpani Mass Recruitment Programme, lifting nearly 90 000 young people out of unemployment. This initiative has a tangible impact on families and communities, addressing both immediate employment needs and fostering long-term socio-economic development.

• In 2022, Gauteng contributed R33 for every R100 of South Africa's economy

• Gauteng's economy surpasses the combined economies of KwaZulu-Natal and Western Cape

• Stats SA predicts an influx of 1.4-million migrants to Gauteng between 2021-2026

• Population Trends in Johannesburg:

Total Gauteng population: 15.1-million

Increase in population:

• 2024: 6,324,000 (2.03% increase from 2023)

• 2023: 6,198,000 (2.19% increase from 2022)

• 2022: 6,065,000 (2.33% increase from 2021)

Gauteng's Budget Boost: Billions Pledged For Crime Prevention and Township Growth

Gauteng’s provincial budget of R165.8-billion for the 2024/25 financial year will be a key focus on tackling crime and fostering growth in the township economy. The budget is set to rise to R171.5 billion in 2025/26 and further to R176.8-billion in 2026/27, injecting a total of R514.1-billion into Gauteng's economy over the next three years.

Mamabolo emphasised the significant growth in the budget, highlighting a combined investment of R744-billion, or R149-billion annually, over the past five years in South Africa's most populous province.

Key Allocations In The Budget Include

• R2.3-billion in 2024/25, and R7.2billion over the MTEF, allocated to Gauteng Department of Community Safety for:

• Enhancing law enforcement capabilities

• Implementing crime prevention initiatives

• Addressing gender-based violence

R50-million in 2024/25, and R111.4-million over the MTEF, designated for Gauteng Department of e-Government to:

• Install CCTV cameras in crime hotspots within townships, informal settlements, and hostels

• Allocate an additional R10million for e-Panic buttons

R1.7-billion in 2024/25, and R5.1billion over the MTEF, directed to Gauteng Department of Economic Development for:

• Supporting job creation

• Revitalising the township economy

• Transforming Gauteng into a multi-tiered mega special economic zone

83% of the budget is allocated to the social cluster; R65.8-billion in 2024/25 and a total of R205.9-billion over the next three years for the Gauteng Department of Education, focusing on expanding access to quality education and skills development.

Other allocations cover health, social development, human settlements, agriculture, rural development, environment, energy crisis response, infrastructure, sport, arts, culture, recreation, treasury, the Office of the Premier, and the Gauteng Provincial Legislature. The Gauteng Provincial Legislature is slated to receive R844.9-million in 2024/25 and R2.6-billion over the MTEF.

Gauteng Department Of Agriculture Launches

Innovative Funding Initiative For New-Era Farmers

A significant opportunity has opened up for aspiring farmers in Gauteng as the Department of Agriculture initiates a pioneering funding programme. With the province's agricultural growth being the focal point of this ambitious endeavour, the initiative is a strategic push by the Gauteng government to stimulate economic activity, generate job opportunities, and alleviate poverty within the province.

This groundbreaking move by the Gauteng Department of Agriculture, Rural Development, and Environment aims to empower historically disadvantaged groups within the agricultural sector. New-era farmers engaged in various sectors, including poultry, piggery, grains, vegetables, red meat, cannabis, aquaculture, rabbit farming, beekeeping, and agri-processing, are invited to apply for funding.

Gauteng MEC for Social Development, Agriculture, Rural Development, and Environment, Mbali Hlophe, highlighted the inclusive nature of the initiative. She specifically called upon historically disadvantaged groups, such as women, youth, and individuals with disabilities, to actively participate and grasp this chance for growth and empowerment.

Sources: Stats SA |News24 | Daily Maverick | Gauteng Roads & Transport | BusinessTech | Engineering News|EWN