Business News: Billionaire Motsepe launches R100m job creation fund

Business News: Billionaire Motsepe launches R100m job creation fund

- Patrice Motsepe and his wife Precious have launched a R100 million fund to aid in creating jobs and training

- The billionaire hopes to create thousands of employment opportunities with an eye to sustainability

- In an unusual twist, the businessman wants to collaborate with the nation's largest religious organisations

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From land reform to job creation, Patrice Motsepe is doing his best to spread hope and opportunities in South Africa.

The Sowetan reported that the billionaire, along with wife Dr Precious Moloi-Motsepe, has launched a fund aimed at tackling one of the nation's most scarce resource issues: unemployment.

Motsepe told those attending the launch that, alongside 33 of South Africa's biggest religious organisations, the aim is to create thousands of jobs:

“The fund we are announcing today is a humble contribution from the partnership... the main purpose is to send a message of hope, also to instil confidence, but also to make ordinary South Africans realise that the challenge of unemployment, poverty and marginalisation is a matter that all of us are concerned about.”

READ ALSO: Billionaire Patrice Motsepe to establish fund for black farmers

Targeting job creation, training and skills development and spanning several years, the endeavour has included groups such as the Zion Christian Church and the Jamiat Ulama SA.

A council has been established with representatives from the organisation and donors who contribute over R50 million to the initiative will have the opportunity to appoint two members. reported that Motsepe had received heaps of praise after the launch of another project aimed at boosting emerging black farmers.

With land reform policies nearing completion, the billionaire's agricultural project intends to provide support and guidance.

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