Township business set for cash injection

"To address skewed spatial development, a government fund is being launched to support informal sector enterprises, especially in the townships," the presidency said in a statement.

"It was agreed [at the Presidential Business Working Group meeting] that municipalities that needed support would be identified for which anchor companies could be identified."

On Friday, President Jacob Zuma hosted a presidential business working group, comprising the business sector and government, to assess the status of economic development and job creation.

Zuma first convened the meeting between government and business in February 2013 to promote collaboration towards implementing an inclusive growth strategy to support the National Development Plan, the presidency said.

"The meeting followed President Zuma's undertaking, in his June 2014 State of the Nation Address, that government would work with the private sector to remove obstacles to investment, promote inclusive growth and build a more prosperous society."

The meeting on Friday assessed progress and implementation action plans in areas including education and skills development, infrastructure, labour regulatory environment, regulatory impact on investment, and economic growth.