Cadet programme a boost for economy, job creation, BUSINESS DAY, Companies & Markets
IN A groundbreaking move that will see franchising play a major role in growing the economy, the Jobs Fund has partnered with the Hot Dog Cafe to train and mentor 372 cadets over a three-year period. Of these, 310 will be gainfully employed and of these 60 will become business owners. The R17m funding from the Jobs Fund will be matched by more than R18m from the Hot Dog Cafe's other funding partners, namely R5m from the Public Investment Corporation's (PIC) Isabaya Fund, which manages the Government Pension Fund; R9.7m from the National Empowerment Fund, a women's empowerment fund established by Old Mutual; and R3.9m from the Masisizane Fund. All these entities have a vested interest in encouraging entrepreneurship, skills training and in job creation.