Unemployment Insurance Fund at the forefront of jobs creation in tough economic times
The Unemployment Insurance Fund (UIF) has been at the forefront of creating jobs and preserving the ones already existing through investments made by the Public Investment Corporation (PIC) and the Fund’s Labour Activation Programmes (LAP). In March 2017, the UIF and the Industrial Development Corporation (IDC) signed the Facility and Subscription Agreement to bring into effect a substantial investment of R 5 billion. The IDC has approved 41 qualifying transactions totalling R 2,304 billion of which R130 million was for companies in distress and relating to job preservation.
Source: polity.org.za