Limpopo provincial economy set to grow 5% 2019

Posted On Friday, 27 June 2014 11:17 Published by
Rate this item
(0 votes)

Limpopo Premier Stanley Mathabatha has set a target to grow the provincial economy by 5% by 2019.

Stanley Mathabatha

Delivering his State of the Province Address at the Lebowa-Kgomo Legislature on Thursday, Premier Mathabatha said: "We have identified infrastructure development, industrialisation and manufacturing as new game changers. This will be in addition to mining, agriculture and tourism.

"We have therefore set ourselves an economic growth target of 5% by 2019, and I have no doubt that working together with our social partners, we can achieve this target."

Acknowledging the importance of social and economic infrastructure, Premier Mathabatha said the next five years will see his provincial government accelerating infrastructure development programmes to unlock the economic potential of in the province.

He said a team of officials has been put together to develop the Limpopo Integrated Infrastructure Master Plan (LIIMP), which sets the pace for the province over the next 20 years and beyond.

"In the same vein, we have begun with the process of developing the Provincial Development Plan, consistent with the National Development Plan. This plan will provide a basis and long-term framework for planning and implementation of economic policies and programmes," he said.

Job creation

The premier said they will revive the provincial art and entertainment industry to unlock job opportunities for young people.

"The government will consolidate the public works programme to create more jobs for our people. Working together with the private sector, we intend to create no less than 426 000 jobs in our province by 2019. This will contribute to the NDP target of six million jobs by the same period.

"In this regard, we will work to ensure that the majority of these jobs are long-term and benefit mostly the historically marginalised sectors of our society, that is, youth, women and people living with disabilities," he said.

Small and emerging business

Through the Limpopo Economic Development Agency (LEDA), Premier Mathabatha said they want to strengthen their support to small and emerging businesses.

The premier said cooperatives and SMMEs will form the backbone of the economic interventions in the province.

"We will ensure that at least 10% of procurement of goods and services by Government should be from both the Cooperatives and SMMEs," he said.

Most Popular

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.