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THE JOBS FUND 19 July 2011

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

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THE JOBS FUND 19 July 2011

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  1. THE JOBS FUND 19 July 2011

  2. 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 • 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

  3. What the Jobs Fund will not fund • 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.

  4. Focus Areas of the Jobs Fund

  5. Targeted Sponsors/Partners

  6. Allocations as per MTEF

  7. Preliminary Targets for the 3 years

  8. Guiding Principles of the Jobs Fund • 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

  9. Criteria for Project Approval

  10. Application Process Post Approval Phase • 1. Implementation • Implementation plan • Sign off Agreement • Disbursement of funds • Monitoring/ • Supervision • Project Management • Monitoring • Reporting • . Exit • Evaluate • Close Out Report • DBSA Approval Phase • 1. Investment Committee Approval • Submission of Appraisal report to the Investment Committee • No Reject/Amend • Yes Approve • Investment Committee Pre Approval Phase • Initial screening • Business plan/ proposal • 2. Evaluate against Jobs Fund Criteria • No Reject • Yes Engage • Preparation of Appraisal Report Expert Team of Assessors Request for Proposals 1st Request for Proposals April – June 2nd Request for Proposals July – Sept 3rd Request for Proposals Oct- Dec 4th Request for Proposals Jan- March

  11. Governance & Operating Structures CABINET MINCOMBUD Advisory Committee Oversight Role MINISTER OF FINANCE DBSA BOARD Executive Role DF BOARD DF Technical Evaluation Committee JOBS FUND INVESTMENT COMMITTEE

  12. Jobs Fund Committees and TORs

  13. 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.

  14. 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.

  15. For detailed information please use the following mediums: • A Share Call line - 0861 003 272 • A website address - www.jobsfund.org.za • A dedicated enquiry email - info@jobsfund.org.za THANK YOU

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