Date: 24/02/05
Source: Department of Finance and Economic Affairs, Gauteng Provincial Government
Title: Mashatile: Gauteng Media Briefing 2005
Statement by MEC of Finance and Economic Affairs, MEC Paul Mashatile
24 February 2005
The goal of the Department of Finance and Economic Affairs is to facilitate the reduction of poverty and unemployment, create jobs and ensure sound financial management of the Gauteng Provincial Government's budget.
This goal will be achieved through various interventions by our agencies such as the Gauteng Tourism Authority, Gauteng Film Office, Gauteng Economic Development Agency and Blue IQ. These interventions are designed to continue to position Gauteng's economy on a sustainable growth path, as mentioned by the Premier in his State of the Province Address.
The challenge we face going forward is ensuring that this growth translates into reducing poverty and unemployment and the creation of job opportunities for the people of Gauteng.
Some of our key interventions in the past year include:
Liquor Affairs
Implementing the new Gauteng Liquor Act of 2003. The Act, which facilitates the regulation of the liquor industry, will contribute massively towards unleashing the economic benefits of this industry while protecting the broader society from the negative effects of alcohol consumption.
Consumer Affairs
Our Consumer Affairs office continues to protect Gauteng consumers against unfair business practices. The office has recorded a 98% success rate on the number of dispute brought before it.
Provincial Treasury
The Department through Provincial Treasury will continue to promote proper and effective financial management of Gauteng Provincial Government (GPG) budget. Particular attention will be paid on preventing over and under expenditure.
Significant progress has been made in the implementation of the Public Finance Management Act (PFMA) and continuous attention is being paid to ensuring that there are improvements in the financial management system.
For the first time in the history of Public Finances in South Africa, the MEC of Finance and Economic Affairs will this year present to the people of Gauteng the Consolidated Financial Statements of GPG. Not only is this in line with the PFMA, but it is an indication of the progress being made to improve the management of public funds and accountability.
We are making progress with regard to the implementation of the Municipal Finance Management Act and building capacity within our municipalities to comply with the Act. Gauteng Growth and Development Strategy The Gauteng Growth and Development Strategy provides a framework for all stakeholders in the economy of Gauteng to work together towards reducing poverty and unemployment and creating jobs. The GDS outlines the approach, mechanisms and strategic levers that we will implement to ensure increased levels of economic growth and development coupled with accelerated job creation, poverty alleviation and the reduction in inequalities. We are confident that the implementation of our Growth and Development Strategy will be able to achieve an economic growth rate of 8% by 2014. The Strategy which focuses on increased social infrastructure investment and investments in targeted sectors such as smart industries, manufacturing and agriculture, will be officially launched by the Premier in March this year. SMME Agency As part of our targeted interventions to address the challenges of the second economy we will focus on increasing the support offered to SMMEs. The Gauteng SMME Agency will be launched in April this year. The Agency, which incorporates Gaumac, will offer both financial and non-financial support to emerging enterprises. An amount of over R200 million will be allocated to the Agency over the next three years. We will also launch the SMME Portal which will provide a database of all SMMEs in Gauteng and assist us to monitor progress in terms of SMME development. Gautrain The bidding process for Gautrain has been completed and the preferred bidder will be announced in April this year. Construction is earmarked to start in October this year. This project will be completed in time for the 2010 Soccer World Cup. Broad-based BEE The Department will finalise a comprehensive broad-based black economic empowerment strategy for the province in the next financial year. This strategy will be in line with national legislation and policy. The GDS sets a target of between 60% and 70% of government procurement spend on broad based BEE and SMMEs by 2014. This target will be reached incrementally starting this financial year. For more information, contact: Percy Mthimkhulu Cell: 082 379 1913 Issued by: Department of Finance and Economic Affairs, Gauteng Provincial Government 24 February 2005
Source: Department of Finance and Economic Affairs, Gauteng Provincial Government
Title: Mashatile: Gauteng Media Briefing 2005
Statement by MEC of Finance and Economic Affairs, MEC Paul Mashatile
24 February 2005
The goal of the Department of Finance and Economic Affairs is to facilitate the reduction of poverty and unemployment, create jobs and ensure sound financial management of the Gauteng Provincial Government's budget.
This goal will be achieved through various interventions by our agencies such as the Gauteng Tourism Authority, Gauteng Film Office, Gauteng Economic Development Agency and Blue IQ. These interventions are designed to continue to position Gauteng's economy on a sustainable growth path, as mentioned by the Premier in his State of the Province Address.
The challenge we face going forward is ensuring that this growth translates into reducing poverty and unemployment and the creation of job opportunities for the people of Gauteng.
Some of our key interventions in the past year include:
Liquor Affairs
Implementing the new Gauteng Liquor Act of 2003. The Act, which facilitates the regulation of the liquor industry, will contribute massively towards unleashing the economic benefits of this industry while protecting the broader society from the negative effects of alcohol consumption.
Consumer Affairs
Our Consumer Affairs office continues to protect Gauteng consumers against unfair business practices. The office has recorded a 98% success rate on the number of dispute brought before it.
Provincial Treasury
The Department through Provincial Treasury will continue to promote proper and effective financial management of Gauteng Provincial Government (GPG) budget. Particular attention will be paid on preventing over and under expenditure.
Significant progress has been made in the implementation of the Public Finance Management Act (PFMA) and continuous attention is being paid to ensuring that there are improvements in the financial management system.
For the first time in the history of Public Finances in South Africa, the MEC of Finance and Economic Affairs will this year present to the people of Gauteng the Consolidated Financial Statements of GPG. Not only is this in line with the PFMA, but it is an indication of the progress being made to improve the management of public funds and accountability.
We are making progress with regard to the implementation of the Municipal Finance Management Act and building capacity within our municipalities to comply with the Act. Gauteng Growth and Development Strategy The Gauteng Growth and Development Strategy provides a framework for all stakeholders in the economy of Gauteng to work together towards reducing poverty and unemployment and creating jobs. The GDS outlines the approach, mechanisms and strategic levers that we will implement to ensure increased levels of economic growth and development coupled with accelerated job creation, poverty alleviation and the reduction in inequalities. We are confident that the implementation of our Growth and Development Strategy will be able to achieve an economic growth rate of 8% by 2014. The Strategy which focuses on increased social infrastructure investment and investments in targeted sectors such as smart industries, manufacturing and agriculture, will be officially launched by the Premier in March this year. SMME Agency As part of our targeted interventions to address the challenges of the second economy we will focus on increasing the support offered to SMMEs. The Gauteng SMME Agency will be launched in April this year. The Agency, which incorporates Gaumac, will offer both financial and non-financial support to emerging enterprises. An amount of over R200 million will be allocated to the Agency over the next three years. We will also launch the SMME Portal which will provide a database of all SMMEs in Gauteng and assist us to monitor progress in terms of SMME development. Gautrain The bidding process for Gautrain has been completed and the preferred bidder will be announced in April this year. Construction is earmarked to start in October this year. This project will be completed in time for the 2010 Soccer World Cup. Broad-based BEE The Department will finalise a comprehensive broad-based black economic empowerment strategy for the province in the next financial year. This strategy will be in line with national legislation and policy. The GDS sets a target of between 60% and 70% of government procurement spend on broad based BEE and SMMEs by 2014. This target will be reached incrementally starting this financial year. For more information, contact: Percy Mthimkhulu Cell: 082 379 1913 Issued by: Department of Finance and Economic Affairs, Gauteng Provincial Government 24 February 2005
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