Gauteng Premier David Makhura has kept his promise of signing the Township Development bill into law.
Makhura had made the promise during the Makhura’s Ntirhisano Outreach Programme earlier this month.
The bill will focus on cutting down all the red tapes for local entrepreneurs, making it easier for businesses to operate in the township without needing to apply for things such as permits.
Furthermore, it will protect street vendors from being removed by the Metro police for their trading.
The new law will allow local entrepreneurs to apply for government funding which will help them start their businesses.
The Premier also emphasized that the law will be looking into giving young local entrepreneurs procumbent mandatory and assisting in helping to grow their business.
There is over R850 million that has been raised to help the enterprisers, including Standard Bank, which will also be giving a helping hand in the growth of businesses through the mobile app.
Makhura also explained that they have already pointed out businesses that are a specific phenomenon in South Africa.
This is due to a lot of businesses owned by foreigners without documentation have been found by police.
“Over time we have looked at existing policies and existing funding instruments and the was a gap in what do you do for community-level business operation and in that space that most businesses took the fall, such as illegal businesses operating that setup.
There are a lot of businesses owned by foreigners without documentation, some of them their businesses are not registered and do not pay tax, but they do large scale operations,” Makhura said.
Gauteng MEC for Economics Parks Tau has supported the new bill and applauded it as a fresh start to close the gaps in township businesses.
“The bill will bring townships closer to mainstream economic opportunities, close the disconnected urban and peri-urban class divides and promote convergence between the formal and informal economies.” He stated during his interview with the Daily Maverick earlier this month
Friday (29-May 2022) marks the first-ever country bill to be signed into law in South Africa.