R7.4bn for Presidential Employment Initiative

The National Treasury has set aside R7.4 billion for the funding of the Presidential Employment Initiative in the 2024/25 financial year.

The Budget review document detailed how the initiative would be funded through a combination of reprioritisation, provisional allocations and funding from the UIF’s Labour Activation Programme.

“About R4bn will be made available for hiring more teacher assistants through the Basic Education schools employment initiative in provinces.

“An amount of R1.1bn is reprioritised towards the Social Employment Fund administered by the Industrial Development Corporation to promote work in local communities.

“Additionally, R750 million is reprioritised towards the Food Security and Livelihoods Programme, which provides subsistence farmers with vouchers to purchase agricultural inputs,” said the National Treasury.

The Presidential Employment Initiative was introduced in 2020 to address unemployment, especially among young people.

The initiative has assisted more than 1.7million people through a combination of job creation, job retention and income and skills support interventions.

The National Treasury also said the Cities Employment Programme will receive R650m to create employment in local communities and townships to assist with upgrading informal settlements, developing township economies, conducting maintenance and developing public spaces and assets.

The National Youth Service will receive R250m to support youth employment initiatives.

The National Pathway management network will receive R250m to help connect unemployed people to job opportunities.

Cape Times