Finance and Economic Opportunities

1. Yes, on the 19^{th of} April 2023, the Growth for Jobs Strategy was tabled before and approved by Cabinet.  The Growth for Jobs Strategy sets out a vision of a provincial economy that achieves break-out economic growth, resulting in sufficient employment and opportunity and an economy that is sustainable, resilient, diverse and thriving – generating confidence, hope and prosperity for all. The goal of the Growth for Jobs Strategy is to enable a R1-trillion inclusive economy in real terms by 2035, which is growing at between 4% and 6% per annum.  This will be achieved through enabling a competitive business environment in which growth is driven through businesses exploiting opportunities. This economic Strategy identifies seven Priority Focus Areas, each with a set of objectives and goals, along with a high-level Theory of Change and actions that would need to be taken in order to achieve the goals.

2. Because of the longer-term timeframe of twelve years, the first three-year implementation plan is currently in the process of being drafted, identifying key interventions with measurable indicators to track performance and progress to be initiated or scaled in the first three years.  A key aspect of the implementation of the Strategy is the ‘whole-of-government’ approach that will be needed, across multiple Western Cape Government departments.

The implementation plan will be tabled before Cabinet in July 2023 for approval, after which implementation will commence.