Johannesburg:The Department of Employment and Labour, in collaboration with Trade, Industry and Competition (DTIC), has launched a R1 billion fund aimed at supporting black-owned and black-managed businesses. This initiative, spearheaded through the Unemployment Insurance Fund (UIF) and the National Empowerment Fund (NEF), seeks to provide financial backing and seed capital to promote enterprise sustainability and job creation. According to South African Government News Agency, the UIF-NEF partnership will see each organization contributing R500 million to the fund. Employment and Labour Minister Nomakhosazana Meth emphasized the importance of investing in entrepreneurial individuals who create jobs and serve their communities. She highlighted the necessity of supporting small businesses to foster large-scale employment. Minister Meth noted the synergy between the UIF's mandate for employment activation and the NEF's expertise in enterprise finance. Together, they aim to bolster businesses with growth poten tial. The UIF offers short-term financial relief to unemployed workers and provides support during life events such as maternity or illness. Meanwhile, the NEF focuses on enhancing Black economic participation through both financial and non-financial support. The partnership aligns with the broader Labour Activation Programme (LAP), which targets employment creation, skills development, and entrepreneurship. Meth outlined the LAP's strategic pillars, which include skills development, workplace experience, and enterprise support for MSMEs. The programme aims to engage 200,000 unemployed individuals by 2026/27, contributing to a medium-term goal of 605,000 beneficiaries. Launching under the theme "Investing in Enterprises. Advancing Employment. Driving Transformation," the initiative's success will be assessed based on job creation and business growth. Meth emphasized the need for economic expansion and sustainable MSMEs to offer practical skills and opportunities to South Africans. DTIC Deputy Minister Zuko Godlimpi highlighted the value of government collaboration in tackling unemployment and supporting enterprise development. He stressed the need for coordinated efforts between institutions responsible for job creation and infrastructure development, given the unemployment rate of 33.6%. The fund will combine financial support with mentorship and technical assistance to promote sustainable enterprise growth and job creation.