{"id":965674,"date":"2024-07-14T13:23:51","date_gmt":"2024-07-14T13:23:51","guid":{"rendered":"http:\/\/localhost:8888\/dm-simulator-v2\/?p=965674"},"modified":"2024-07-14T13:23:51","modified_gmt":"2024-07-14T13:23:51","slug":"potential-state-owned-bank-excites-gauteng-residents","status":"publish","type":"post","link":"https:\/\/elections.sabc.co.za\/elections2024\/potential-state-owned-bank-excites-gauteng-residents\/","title":{"rendered":"Potential state-owned bank excites Gauteng residents"},"content":{"rendered":"<p>Some Gauteng residents have expressed their excitement about the possibility of a state-owned provincial bank, after<br \/>\nGauteng Economic Development <a href=\"https:\/\/www.sabcnews.com\/sabcnews\/gautengs-gdp-declines-by-6-says-maile\/\" target=\"_blank\" rel=\"noopener\">MEC Lebogang Maile<\/a>&#8216;s confirmation that he plans to prioritise the establishment of a state-owned provincial bank to advance the economic needs of the grassroots majority in the province.<\/p>\n<p>This is one of the focus areas that Maile outlined as the key priority points that the province aims to focus on in the 7th administration.<\/p>\n<p>Maile is adamant that a state-owned bank will serve as a great boost to the township economy and in turn help to create jobs and fight poverty.<\/p>\n<p><strong>He was addressing the media at the Gauteng Infrastructure Financing Agency (GIFA) in Sandton:<\/strong><\/p>\n<p><iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/xkgSGJ8zks4?si=z6Ad--h0DES1PUQz\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>Maile outlines his economic plans for Gauteng, the biggest provincial economy in South Africa.<\/p>\n<p>Gauteng&#8217;s GDP is just over R2.4 trillion &#8211; almost 34% of the national GDP. However, unemployment remains one of Gauteng&#8217;s biggest challenges.<\/p>\n<p>&#8220;Gauteng&#8217;s unemployment rate at 33.7% is higher than the national average of 32.9%. Based on its working-age population, 4 out of 10 or 40% of people entering the labour force in South Africa are in Gauteng,&#8221; Maile says.<\/p>\n<p>To change this, Maile says a state-owned provincial bank in partnership with the private sector might be the answer, as this will boost the township economy. &#8220;They say a state-owned bank might bring great relief and help small businesses to access funding.&#8221;<\/p>\n<p>Maile says stringer action will be put in place to increase revenue collection, help NPOs, and create transparency and integrity in tender processes.<\/p>\n<p>Meanwhile, Gauteng has yet to pave the way for municipalities that are struggling financially. Maile also assures that Gauteng will be guided by the law on how to intervene in non-ANC municipalities.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maile is adamant that a state-owned bank will serve as a great boost to the township economy<\/p>\n","protected":false},"author":1,"featured_media":965675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78],"tags":[],"class_list":["post-965674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts\/965674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/comments?post=965674"}],"version-history":[{"count":0,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts\/965674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/media\/965675"}],"wp:attachment":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/media?parent=965674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/categories?post=965674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/tags?post=965674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}