Tuesday, July 28, 2009

Mr. Zuma, if you really really really want to create jobs, here's what you need to do

"We have never really treated our informal sector as a part of our economy," said Sunter. He added that many informal businesses were hugely successful, but their progress was stunted by a lack of financing which effectively capped their growth and ability to create jobs.

He argued that if bridging finance were made available to lift 20 000 businesses from the informal to the formal sector, almost 400 000 jobs could be created.

SHOOT: Uplift, formalise, leverage the informal sector - great idea. The Rosebank Rooftop Market is evidence of the great wealth of opportunities and products South Africans are making. But I'd go even further back than that, and get more people farming, growing stuff, producing stuff [rather than selling plastic toys made in China, lets grow or make stuff here].
clipped from www.fin24.com
One of Sunter's key concerns is that South Africa is not trying to develop its own skills base.
He pointed to the case of Johannesburg teenager Siyabulela Xuza. He had won several international science awards before he turned 20, and yet he received more media attention in the US and UK than in South Africa.
"In America they celebrate excellence, in South Africa we celebrate mediocrity," said Sunter.
Sunter said SA can tackle its high unemployment figures by assisting the growth of small businesses. He said government-funded public works programmes are not the best way to stimulate employment.
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