The Gauteng Economic Development Department says it hopes to reach the R1-billion mark by the end of the year in financial assistance for businesses that experienced losses and damages during the 2021 July unrest.
This month marks one year since the violent looting and vandalism which left over 300 people dead and millions in property damages. The unrest was sparked by the arrest of former President Jacob Zuma. In Gauteng alone, over R3.5 billion was reportedly lost.
“We have assisted a number of businesses across the Gauteng City Region. Now to move the fund even further, we have set up the Gauteng Partnership Fund which now looks much more broadly than the rebuilding fund. It is looking at assisting SMMEs across the board. And that fund is currently sitting at R500-million. We are hoping that by the end of the year, the fund would have reached a R1-billion mark,” says the Department’s spokesperson Loyiso Jantjies.
VIDEO: Reflecting on a year since July unrest: Crispin Hemson