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JOBS FUND PRESENTATION 2012

JOBS FUND PRESENTATION 2012. Background of the Jobs Fund. The Fund was announced by the President during the State of the Nation Address in Feb 2011 The Jobs Fund is aimed at piloting and up scaling existing innovative approaches to employment creation

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JOBS FUND PRESENTATION 2012

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  1. JOBS FUND PRESENTATION 2012

  2. Background of the Jobs Fund • The Fund was announced by the President during the State of the Nation Address in Feb 2011 • The Jobs Fund is aimed at piloting and up scaling 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 2

  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 job placement • Initiatives with huge capital investment but minimal job creation potential. • Loans or Advances of cash • Double Dipping Funding 3

  4. Focus Areas of the Jobs Fund 4

  5. Targeted Beneficiaries 5

  6. Allocations as per MTEF 6

  7. Preliminary Targets for the 3 years * Technical Assistance funding included. 7

  8. Guiding Principles of the Jobs Fund • Targeting youth unemployment, skills and enterprise development • Pilot 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 DBSA approach focuses on project risk (viability of the project) and not credit risk • Jobs Fund portfolio to be structured on 80:20 split 8

  9. Criteria for Project Approval 9

  10. Application Process 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 • 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 • 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 • Approval Phase • 1. Investment Committee Approval • Submission of Appraisal report to the Investment Committee • No Reject/Amend • Yes Approve • Investment Committee 10

  11. CABINET Executive Authority Shareholders / Oversight Advisory Committee Minister of Finance DBSA Board Accounting Authority Oversight DF Board Executive Role JOBS FUND INVESTMENT COMMITTEE Technical Evaluation Committee Governance & Operating Structures 11

  12. Programme Implementation, Monitoring and Oversight • 80% focus on organisations that have capacity to manage projects on their own with the DBSA only focusing on the management of outputs, outcomes and deliverables as well as quality assurance • 20% focus on entities that cannot carry the financial and project risk will be managed through the Steering Committee 12

  13. Regional Breakdown of Applications 13

  14. Concept Notes – Progress Update • Institutional Capacity (6) • R462 m • 23,670 jobs • Enterprise Development (72) • R2,053 m • 143,585 jobs • Support for Work seekers (24) • R610 m • 32,003 jobs • Infrastructure (19) • R1,283 m • 359,534 jobs 14

  15. Lessons Learnt From First Call for Proposals • Eligibility • No co-funding • Minimum funding requirements not met • Little innovation (projects can be funded elsewhere) • Competitive fund • In First Call for Proposals 2651 applications worth R320 billion competing for R2 billion • Linkage to jobs • No link between funding and jobs to be created • Funding models • Project finance or balance sheet funding not job related 15

  16. Second Call for Proposals • Anticipated Date • February 2012 • Expanding Jobs Fund impact • Provincial Offices and resources • Feedback Sessions and Media Information Campaigns • Targeted Information Sessions (Presentations to relevant stakeholders) • Process • Project Origination (targeted groups, areas, programmes) • Application process • Investment structuring and Approvals • Contracting and Implementation 16

  17. Thank You 086 100 32 72 Info@jobsfund.org.za www.jobsfund.org.za 17

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