The Gauteng provincial government will invest at least R160 million in revitalising and building business hubs in townships.

This announcement was made by Gauteng premier David Makhura.

“We will invest R160 million for the current financial year to build infrastructure for the township entrepreneurs to do their work properly,” he told the Gauteng Township Economy Revitalisation Summit, earlier this week.

Makhura outlined the plans his administration had for building the township’s economy. He said over the next five years, government would invest R1 billion in building and improving infrastructure for entrepreneurs to operate from. He promised delegates that government would look at some of the laws hampering business growth in townships.

“We are passing laws that don’t promote small, medium and micro enterprises,” he said.

Makhura said the government would lead by example and start procuring goods and services from townships.

University of Johannesburg Centre for Small Business Development director Thami Mazwai called on township businesses to create an “ecosystem” that would see money circulate in their areas to ensure growth.

“We should create an ecosystem to ensure spending power is trapped in the township.”

Mazwai maintained that Soweto residents spent more than R1 billion a year but less than 20% of this was spent in the township.

Mazwai appealed to businesses to support one another as the socioeconomic benefits accompanied by such a will prove to be were immeasurable.