Non-profit organisation the Craft + Design Institute (CDI) is celebrating the close-out of a programme which has enabled 50 small South African businesses to create 669 new, permanent jobs. The programmes also provided skills training for 741 small business staff.
This good news offers a beacon of hope as the South African unemployment rate has risen to nearly 33%, with youth unemployment of particular concern.
The R48.5m project was funded by the National Treasury’s Jobs Fund, the Technology Innovation Agency, the Western Cape Department of Economic Development and Tourism, and the Michael & Susan Dell Foundation. Participating businesses also contributed funds.
CDI Capital, a niche subsidiary of the CDI, managed all aspects of the programme, including mentoring and technical services. This enabled the participants to fast-track 23 innovations, some of which attracted global awards and investors.
“The businesses achieved this job creation, upskilling and growth despite the Covid-19 pandemic and post-pandemic economic conditions, the July 2021 unrest, and persistent load-shedding,” said CDI Group CEO Erica Elk.
“This programme’s success is a testament to the hard work put in by the CDI staff and business owners to ensure the funding achieved such an incredible impact.
“Small enterprises are vital to grow our economy and create jobs. With socially responsible investment we can maximise the potential of local entrepreneurs, build a generation of South African innovators, and a strong, inclusive economy.”
For more information on the project: Jobs Fund
