President Cyril Ramaphosa says he wants to see more women-owned enterprises.
Among the six targets he wants to be met to empower women are the establishment an ecosystem of support for female business owners and increased employment of women and youth, with set targets.The president said he wants the country to rebuild township and rural economies in an inclusive manner, to create an enabling policy environment as well as to encourage similar commitments in related industries.
Every government department, public institution and private company can and should implement mechanisms to fast-track preferential procurement for women-owned enterprises.While significant progress had been made in several areas, “we have not fundamentally transformed patterns of ownership, control and benefit in our economy”.
“In addition to being underrepresented in almost every part of the economy outside community, social services, domestic and informal work, women are virtually absent as owners in key industries like steel, energy, mining and agriculture,” he said.among women is nearly 37%, compared to 32% among men. In 2018, women’s median monthly earnings were 76% of those of men, he said.
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