File: Billionaire Patrice Motsepe's foundation has donated a R100 million towards a fund for job creation and skills training.
JOHANNESBURG - Billionaire Patrice Motsepe's foundation has donated R100-million towards a fund for job creation and skills training.
This latest donation is a response to the 29% unemployment rate.
It will be administered through 33 religious and faith-based organisations Motsepe says are close to his heart, as they have been working together for many years.
The foundation will support the fund financially until more funders can be brought on board.
Motsepe says the fund will adhere to good governance and global best practice.
“The way it's gonna function is simple. I’ve got a project that I believe will create a number of jobs, that job I must give to the advisory council which is like a board and the advisory council will give an application to where the jobs and skills are and evaluate whether this is a job-creating project that should be funded.”