Gauteng to get a Township Stock Exchange

Gauteng will become the first province to have a Township Stock Exchange to focus on reigniting and growing the township economy, which will be a collaborative effort between government and business.

Speaking at the Johannesburg Chamber of Commerce and Industry annual conference in Sandton yesterday, Premier David Makhura called on the business community to join the provincial government in building an economic coalition to achieve the vision of a transformed, modernised and reindustrialised Gauteng city region.

Speaking of the “two-ship economy”, which his government valued, Makhura said they sought to unlock this through the township economy revitalisation strategy.

“The Township Stock Exchange will go a long way to easing the burden of access to finance carried by most township entrepreneurs,” Makhura said.

He invited big business, which he said was already on board, to participate in efforts to turn the townships into centres of production and manufacturing in growing the township economy.

The Township Stock Exchange will open next month.

Makhura said he and economic development MEC Lebogang Maile had held meetings with local and foreign business organisations to discuss the building of an economic coalition.

The focus at the meetings was on sectors such as automotive and components, machinery and capital equipment manufacturing, aviation, aerospace and defence industry, food and beverages, business process outsourcing and mining.

Caxton News Service

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