Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Cape Town - South Africa's drive to create millions of job opportunities will cost R10bn over the next three years, Trade and Industry Minister Rob Davies said on Tuesday.
President Jacob Zuma is under pressure from trade union allies, who helped to secure his presidency in April, to protect workers as Africa's biggest economy in its first recession in 17 years.
"The presidency will be leading a special National Jobs Initiative, in which a range of new and revamped programmes will be launched to the estimated value of R10bn over the three year medium-term expenditure framework," Davies said in a speech.
Additional funding would be identified to increase the impact of the jobs initiative, as South Africa tried to create about 500 000 job opportunities by December, he said.
Zuma said in his maiden state-of-the-nation speech last week that the government would create half a million opportunities this year through an expanded public works programme, and 4 million, mostly temporary, jobs by 2014.
The global crisis has hit South Africa's manufacturing and mining sectors hard. The official jobless rate is 23.5%.
- Reuters