Sun City – In a landmark stakeholder engagement meeting held today at Sun City, North West Premier Lazarus Mokgosi and MEC for Finance Kenetswe Mosenogi addressed key representatives from the three major banks ahead of the official launch of the North West Development Fund.
The meeting, graced by MEC for Cooperative Governance Oageng Molapisi, marked a significant milestone in the province’s journey towards inclusive economic growth and transformation.
In his remarks, Premier Lazarus Mokgosi described the fund as “a transformative chapter in the story of our beloved North West Province.” He noted that the establishment of the North West Development Fund is not merely a policy initiative, but a strategic commitment to building a stronger, more resilient provincial economy.
“Our province stands at a crossroads,” said the premier. “While blessed with abundant resources and potential, we continue to face persistent challenges—chief among them, youth unemployment, infrastructure backlogs and limited access to capital for small businesses. The Development Fund is our vehicle to address these head-on.”
MEC Kenetswe Mosenogi explained that the provincial government has already committed R100 million in seed funding towards the initiative, signaling its seriousness and intent. However, Mosenogi emphasized that government alone cannot drive the envisioned change.
“While government can provide the spark, it is partnerships with institutions like yours that will fan this initiative into flame. We are inviting the banking sector to be co-architects in this legacy-building effort,” she stated.
The Fund will focus on financing critical infrastructure, supporting SMME growth and enhancing workforce skills to align with emerging economic opportunities. A strong emphasis was placed on governance, transparency and alignment with provincial priorities to ensure the integrity and impact of the fund.
“We have instituted robust governance frameworks, clear project selection criteria and strict reporting mechanisms. We are committed to building a fund that is credible, accountable and impactful.”
Mosenogi concluded by calling on all stakeholders to seize the moment and collaborate meaningfully: and said,
“The true success of this fund will be seen in the lives it changes – the young person who secures employment, the entrepreneur who grows a business and the rural village that gains access to essential infrastructure. This is our moment to come together and shape a more prosperous North West.”
The official launch of the North West Development Fund is expected to be a pivotal moment in the province’s developmental trajectory, with a strong focus on inclusive partnerships and sustainable impact.
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For more information or clarity please contact Ms Kesalopa Gill on 018 3883584 or e mail kgill@nwpg.gov.za.
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Ms Lesedi Makhubela on 062 103 2798 or email connielesedi@gmail.com