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The panel discussion was entitled Local Economies as Engines of Inclusive Development: A New Vision for Governance and Informality through Equitable Climate Action and Public Service Provision.
“Investments in supporting township economy is a contribution to economic growth with potential positive spin-offs such as job creation, improved living standards, and quality of life,” the Minister said.
She warned that financial exclusion of informal enterprises continues to stifle growth and innovation, leaving many promising enterprises unable to scale or compete with more established, formal businesses.
“Addressing these barriers through micro-investment ecosystems and enabling entrepreneurial innovation can unlock sustainable township economic development and greater inclusion in national growth,” Simelane said.
To advance the agenda on local economic development and transformation of informality in cities, Simelane highlighted that the 2024 White Paper for Human Settlements advocates for the implementation of developmental interventions.
Among the interventions proposed were:
The Minister urged municipalities to play a proactive role in shaping their respective economies. This requires inclusive stakeholder participation in developing strategies and plans, such as their integrated development models.
She noted that municipalities still grapple with deep economic and spatial disparities which are not only a historical injustice linked to apartheid, but also a geographical and environmental reality.
“Despite these differences, cities must take their own initiatives, as espoused in our Constitution, to share and distribute the economic benefits to their residents,” Simelane said.
She added that people should not only be connected to cities for employment but also for opportunities related to decent and adequate housing, better living conditions, skills development, participation in manufacturing and entrepreneurial endeavours that generate production inputs, and access to commercial networks, in order to promote and protect their human rights.
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