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THE JOBS FUND 19 July 2011. Background of the Jobs Fund. The Fund was announced by the President during the State of the Nation Address The Jobs Fund is aimed at piloting new and upscaling existing innovative approaches to employment creation - PowerPoint PPT Presentation
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THE JOBS FUND
19 July 2011
Background of the Jobs Fund
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The Fund was announced by the President during the State of the Nation Address
The Jobs Fund is aimed at piloting new and upscaling existing innovative approaches to employment creation
The Fund’s activities include planning, financing and oversight of implementation of job creation projects
The Minister of Finance appointed DBSA as an implementing agent
The Minister launched the Fund on the 7th June 2011
What the Jobs Fund will not fund
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Bail out of distressed companies
Start-up companies and initiatives
Training activities that are not linked to placement
Initiatives with huge capital investment but minimal job creation potential.
Focus Areas of the Jobs Fund
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Enterprise Development
Investments in product development, local procurement, marketing support, equipment upgrading or enterprise franchising
Infrastructure Investment
Local infrastructure investment projects such as light manufacturing enterprise zones, local market and business hub facilities, critical transport and communication links and upgrading of infrastructure services
Support for Work Seekers
Support programmes with a particular focus on unemployed young people such as job search projects, training activities and support for career guidance and placement services
Institutional Capacity Building
Projects aimed at strengthening institutions through which jobs are created
Targeted Sponsors/Partners
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Public Sector Municipalities Government departments Public entities
Private Sector Business enterprises
Non Government Sector NGOs CBOS
Allocations as per MTEF
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Year 1 R2,0bn
Year 2 R3,0bn
Year 3 R4,0bn
Total R9bn
Preliminary Targets for the 3 years
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Expenditure(R mil)
Co-Funding(R mil)
Number of Projects
Sustainable jobs created
Net income added
(Rm a year)
Enterprise Development
3 500 7 000 700 100 000 1 500
Infrastructure Investment
4 000 2 000 250 20 000 400
Work-Seeker Support
1 000 500 200 20 000 400
Institutional Development
500 500 200 10 000 200
Total R9 000m R10 000m 1 350 150 000 R2 500m
Guiding Principles of the Jobs Fund
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Targeting youth unemployment, skills and enterprise development Pilot new and upscale existing innovative approaches to
employment creation The Jobs Fund will provide once-off grants only repayable if utilised
inappropriately Support projects on co-financing ratio of 1:1 Focus on developmental return rather than financial return The approach focuses on project risk (viability of the project) and
not credit risk
Criteria for Project Approval
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Eligibility Impact Due diligence Track record Private sector led/linkages Commercial basis No outstanding legal decisions Matched funding
Potential for job creation Innovation Additionality Sustainability Capacity to implement Contribution to economic
development
Application Process
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Approval Phase
1. Investment Committee Approval
Submission of Appraisal report to the Investment Committee
No Reject/Amend
Yes Approve
Investment Committee
Pre Approval Phase
1. Initial screeningBusiness plan/
proposal
2. Evaluate against Jobs Fund Criteria
No Reject
Yes Engage
3. Preparation of Appraisal Report
Expert Team of Assessors
Post Approval Phase
1. Implementation· Implementation plan· Sign off Agreement· Disbursement of
funds
2. Monitoring/ Supervision
· Project Management· Monitoring· Reporting
3 . Exit
· Evaluate· Close Out Report
DBSA
Request for Proposals
1st Request for Proposals
April – June
2nd Request for ProposalsJuly – Sept
3rd Request for ProposalsOct- Dec
4th Request for Proposals Jan- March
Governance & Operating Structures
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Oversight Role
Executive Role
CABINET
MINCOMBUD Advisory Committee
JOBS FUND INVESTMENT COMMITTEE
DBSA BOARD
DF Technical Evaluation Committee
DF BOARD
MINISTER OF FINANCE
Jobs Fund Committees and TORs
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•Advise government on all matters relating to the operation of the JF including reviewing and refining the mandate, key performance areas and targets in the context of experience and changing circumstances.
Jobs Fund Advisory Committee
•Approval of Funding Proposals •Amendments to Approval Decisions •Evaluation of Fund Performance•Consideration of Management Reports
Jobs Fund Investment Committee
•Assessment of Funding Proposals•Follow-up on the Amendments to Approval Decisions•Input in the preparation of Jobs Fund Performance Report•Technical support to applying institutions as and when
necessary
Jobs Fund Technical Evaluation Committee
Strategy to Create Projects Pipeline
Call for proposal through Jobs Fund website and media Utilisation of DBSA investment and implementation footprint The DBSA will identify existing projects that are scalable/replicable
for support with regard to preparation and submission for consideration by Jobs Fund committees
Contribution by DBSA Intermediaries and other DFIs Conducting country wide road-shows with different sector players to
facilitate partnerships and pipeline building Deploy technical expertise to support project development.
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Conclusion
The thrust of each application or proposal must reflect and demonstrate job creation within a funding period (funding year).
Ownership of the job creation initiative by the applicant is very fundamental to the approval.
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For detailed information please use the following mediums:
A Share Call line - 0861 003 272A website address - www.jobsfund.org.za
A dedicated enquiry email - [email protected]
THANK YOU
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