Wednesday, 13 July 2016

Press statement: Government no closer to launch of venture capital fund earmarked for job creation

Democratic Alliance press statement by Toby Chance MP DA Shadow Minister of Small Business Development

13 July 2016
Release: immediate 

In replies to parliamentary questions from the DA, neither Minister of Finance Pravin Gordhan nor Minister of Small Business Development, Lindiwe Zulu, could provide substantive details on the mandate, composition, governance structures, funding, board of directors or launch date of the venture capital fund that President Zuma announced to much fanfare on 09 May, over two months ago. 

This means that the job creation promised by this venture capital fund will be stalled because of government’s hollow commitment to placing job creation at the apex of its agenda.