SEDC launches company
Tsaone Basimanebotlhe | Tuesday May 24, 2016 11:39
The company will focus on generating revenue for the council and creating employment opportunities for the constituents. It will invest in various sectors of the economy like hotel tourism, shopping malls, collection of rates, students’ accommodation, amongst others.
“The fund on the other hand will focus on helping the needy and supporting NGOs. It will offer scholarships at tertiary level, pay for school fees at secondary level and provide uniforms to those who can’t afford.
The fund raised P50,500 on its first day and our target is to raise P2 million this financial year,” SEDC chairman Phenyo Segokgo said. Segokgo said Ramotswa mall alone will employ 100 people while Tlokweng mall could employ over 250 people. He said his council is looking for land nearer to Mogobane dam for them to build a guesthouse. “Our aim is for this company to invest in and outside the country. We want to reduce our dependency on government. If SEDC’s company can generate enough money then we will request less money from the Revenue Support Grant,” he said.
SDEC senior assistant council secretary, Stephen Motlogelwa said his council has recently been experiencing shortage of funds when it comes to delivering on its mandate because it does not receive enough funds from the government.
“Our budget does not allow us to cater for the social aspect. At times we fail to help people from our district because of the constrained budget.
The Chairman’s Fund will help us to address some of these issues. Recently, the council took a resolution to sponsor some of the youth for further studies but it cannot afford to do that with its budget.
The councillors have offered to contribute P500 each every month for the chairman’s fund to address the problem,” Motlogelwa said.
He said the campaign will help them to reach out to the community.