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The Free State has been dubbed a sleeping giant with enormous economic potential, during her State of the Province Address (SOPA) at the Lemo Green Park in Bloemfontein; Premier Ms MaQueen Letsoha-Mathae outlined ambitious programmes to grow the provincial economy.
Though acknowledging the shortcomings of the province, Letsoha-Mathae said she is proud of the strides the Free State province has made to grow its economy. The province hosted investment and agricultural summits last year with the aim of attracting investors into the province.
The province has also established trade relations with countries like China and India amongst others. The Premier told her audience that the provincial government needs inclusive growth, greater investment, higher income, better living standards, more jobs, less poverty, reduced inequality in turning a new page in the province’s economic journey.
The global economic environment has become hostile to emerging economies, with many economic bumps along the way; South Africa has not been immune to the effects of the economy including the Free State as well. Letsoha-Mathae said amid tough economic times, global disruptions, and emerging uncertainties, the provincial government is inspired by the current upward economic trajectory.
Citing the pressing issue of unemployment in the province, she said unemployment in the province fell from 37,6% in the Second Quarter of 2024 to 36% in the Third Quarter of the same year. She said the tide is turning, however, the latest figures that show an increase in unemployment in the Free State to 37,9% in the Fourth Quarter of 2024 are concerning.
“Driven primarily by lower inflation, falling interest rates, and sustained investment, our economic growth is projected to improve to 1.6% in 2025. Our relentless endeavours to create employment through public employment programmes have been nothing short of rewarding.
For years now, many jobs have been created through EPWP with women, youth, and persons with disabilities as the main beneficiaries. As part of Phase 5 of EPWP, we have committed to create thirty thousand, one hundred and fifteen (30 115) employment opportunities,” Premier Ms MaQueen Letsoha-Mathe.
“I am pleased to report today that in the 2024/25 financial year, which is the first year of Phase 5 of EPWP, we have created nineteen thousand, seven hundred and ninety-two (19 792) job opportunities. In the next financial year, EPWP is expected to support poverty alleviation initiatives, promote skills development, and improve service delivery,” she continued.
The Premier said the province will also focus on small businesses as they are vital in growing domestic economy and create the much needed jobs, she said government has partnered with the private sector in order to support small businesses.
“Our partnership with Coca-Cola Beverages continues to yield positive results with fourteen spaza shops in Qwaqwa and 26 in Mangaung supported with refurbishments. Through our partnership with the National Youth Development Agency, 32 businesses owned by young people received financial support.
The Botshabelo Digital Hub also received financial support to ensure sustained business and digital skills provision to young people. This is deliberate. We want only the best for our youth. They are the future,” said Letsoha-Mathae.
“The Basic Coding skills offered enable entrepreneurs to develop programmes, software applications and websites to enhance efficiency. Other forms of support included training one thousand, one hundred and ninety-six (1 196) entrepreneurs in bakery, agriculture, construction, business compliance, business skills and vehicle maintenance.
This training was conducted in conjunction with the Central University of Technology, Small Enterprise Development Agency, Department of Small Business Development and MERSETA. Alongside these support initiatives, one hundred and thirty-one (131) enterprises were assisted with market access opportunities.
The next financial year will be no different. We will drive inclusive growth and job creation to set the province on a daring developmental path. We will implement more programmes to increase access to finance and opportunities for mainly women, youth, persons with disabilities, and businesses owned by military veterans. We are not apologetic about this,” said the Premier.
Letsoha-Mathae said her government will increase the number of competitive small businesses, with a focus on township and rural economies, which will be accompanied by localisation and industrialisation through targeted strategic procurement.
“We will engage the Free State business community to explore how they can meaningfully participate in the economic development of the province. We will transform the future economic landscape of the province by prioritising Free State based businesses in the procurement of goods and services to ensure their contribution to the growth of the province,” she remarked.
