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Industry short of NGP's 5-million new-jobs goal

30 May 2012

The South African office of the United Nations Development Programme (UNDP), Business Unity South Africa (Busa) and the Black Business Council (BBC) said they believed the government's New Growth Path strategy goal of 5-million new jobs in the next decade, was in jeopardy. Therefore, they signed a memorandum of understanding to conduct global studies into local procurement before creating a programme that could boost job creation, Business Day reports.

The UNDP, Busa and BBC acknowledge that South Africa's economic expansion over the past 18 years "has not broadly benefited all segments of South Africa's population." The groups therefore "seek to further examine and work towards increased and broadened economic growth in South Africa," Busa said in a statement, adding that it aims to raise both competitiveness and employability of productive sectors, such as manufacturing and mining that have struggled to grow post-recession, unlike service sectors such as finance and retail.

BBC spokesman Sandile Zungu said his organisation believed small, medium-sized and micro enterprises (SMMEs) were best placed to create jobs in South Africa. "We want large corporates to buy from SMMEs," he said, according to Business Day. "We want SMMEs to survive when payments are late. Soon we will go on international research trips to find the best strategies to do this."

Read the full article on www.businessday.co.za.