On the 24th of March 2022, Gauteng Provincial Legislature (GPL) unanimously adopted the Gauteng Township Economic Development Bill, an important milestone for township-based businesses, entrepreneurs, taxi operators, and real estate business owners.
When in effect, the Bill will make it possible for people living in townships to start running businesses, enterprises, and co-operatives in an improved environment, such as the upgrading of trading zones into fully fledged business districts.
It will establish specific procurement regulations and support that will allow government and its main contractors to conduct business with a large group of township-based enterprises via linked systems. It will also compel enterprises, that obtain two government contracts, to spend a certain percentage of their procurement spend on township-based enterprises, entrepreneurs, or co-operatives.
Furthermore, the Bill will aim to create a better environment for township-based retail, supermarkets, and other formal sector players to partner with businesses and enterprises owned by township residents, for the sourcing, production, and manufacturing of goods as well as municipalities to develop taxi ranks into micro central business districts in support of the taxi economy with the development and promotion of a township-based real estate development model to convert areas with high commercial densities into township high streets.
