In his State of the Nation address last year, President Jacob Zuma said the government would provide R20-billion in tax incentives to kick-start manufacturing initiatives and expand factory plants with a capacity to create jobs.
Last night, Zuma said the jobs fund he announced last year had received more than 2500 applications and that just over R1-billion had been committed to new job-creation projects, run by the Department of Trade and Industry. Projects approved were those able to create at least 500 jobs each.
There was also movement on the R10-billion set aside for the Industrial Development Corporation to create jobs. Of this, R1.5-billion has now been allocated to 60 companies to employ more people.
The government was forced to revise down its jobs target last year, with Zuma blaming it on the aftermath of the 2008 global economic recession.
But analysts insist the job-creation initiatives he announced last year are not necessarily linked to how the global economy performs.
Zuma also announced that progress had been made in the amalgamation of small business institutions such as Khula Enterprise and the IDC's small companies fund into one major entity to be launched this year.
On mining, Zuma side-stepped the nationalisation debate, emphasising the government's plans to beneficiate minerals.
"We remain committed to the creation of a favourable and globally competitive mining sector and to promote the industry to attract investment and achieve both industrial growth and much-needed transformation," he said.
Zuma did not give feedback on the second phase of the expanded public works programme aimed at creating 4.5-million jobs.
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