The Minister of Trade, Industry and Competition (the dtic), Mr Parks Tau wishes to extend his heartfelt congratulations to the Industrial Development Corporation (IDC) and the Department for their exemplary work through the Social Employment Fund (SEF), which recently received global recognition.
“Winning the Prosperity Catalyst Award at the 2024 Bay Urban Visionary Awards in Bilbao, Spain, is testament to the profound impact that the SEF has had on our society. This achievement speaks volumes about the IDC’s role as the administrator of the SEF and its ability to drive sustainable development, create jobs, and foster community transformation,” says Tau.
The Bay Urban Visionary Awards aim to spark and strengthen radical and consensual actions and measures between cities, regions, organisations and people around the world to push for a completely different status quo and build collective capacity to respond to today’s pressing urban challenges.
The Prosperity Catalyst Award honours projects from around the world that have succeeded in generating prosperity in their communities, as well as fostering wealth redistribution and social and territorial cohesion.
Through partnerships with civil society organisations and community partners, the SEF has succeeded in creating 140 000 jobs, empowering individuals with the skills needed to embark on self-employment, education, or further employment opportunities.
“This is more than just an economic initiative; it is a beacon of hope for the many communities and individuals it has touched. I commend the dtic and the IDC for their continued leadership in fostering inclusive growth and working toward a more prosperous South Africa. This award is not only a national victory but a symbol of global recognition for the innovation and commitment embedded in our programmes,” adds Tau.
“Let this success inspire us to continue pushing the boundaries of what is possible, ensuring that every South African benefits from the opportunities created by these initiatives,” states Tau.
MEDIA ENQUIRIES
Yamkela Fanisi – Ministerial Spokesperson
Department of Trade, Industry and Competition
YFanisi@thedtic.gov.za
076 034 6551
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