​Christopher Sello
On Tuesday, Gauteng's MEC for Finance, Jacob Mamabolo, delivered the highly anticipated annual budget speech for the financial year 2024/25 at the Gauteng Legislature.
Highlighting the Gauteng Provincial Government's emphasis on supporting township-registered businesses, Mamabolo underscored the extensive engagement with over 22,725 companies owned by historically disadvantaged individuals, including blacks, youth, women, and people with disabilities.
This approach aligns closely with the vision outlined by Premier Panyaza Lesufi's Township, Informal Settlements, and Hostels (TISH) strategy for township economic recovery and reconstruction, aimed at fostering growth across Gauteng.
"The provincial budget for 2024/25 amounts to R165.8 billion; it will grow to R171.5 billion in 2025/26 and to R176.8 billion in 2026/27", said MEC Mamabolo. 
The budget speech delineated critical points from the 2024 State of the Province Addresses, allocating resources to various Gauteng Government Departments.
An estimated R1.7 billion is allocated to the Gauteng Department of Economic Development for the fiscal year 2024/25, with an additional R5.3 billion earmarked over the same period to address job creation initiatives and revitalize township landscapes, with the overarching goal of transforming Gauteng into a multi-tiered mega special economic zone to attract investments and bolster the tourism sector.
"We are allocating a total of 64.8 billion in 2024/25 and then 202.7 billion over the MTEF to the Gauteng Department of Health to implement Health wellness interventions, particularly MEC in the Townships, Informal Settlements and Hostels," noted Finance MEC. 
Furthermore, allocations to the Gauteng Department of Social Development aim to tackle homelessness and support the most vulnerable members of society, with an injection of R5.4 billion in 2024/25 and a total of R16.9 billion over the MTEF for initiatives such as shelter programs, social services, and housing support.
Additionally, R588.2 million will be directed towards treatment centres in Randfontein, Witpoortje, and Sedibeng to combat drug and substance abuse.
"A total of R5.8 billion in 2024/25 and R16.9 billion over the Medium-Term Expenditure Framework (MTEF) has been allocated to the Gauteng Department of Human Settlements."
This funding, he added will facilitate housing enhancements and infrastructure advancements through initiatives like the Human Settlements Development Grant (HSDG) and the Rapid Land Release Programme, reflecting steadfast commitment to improving living conditions in townships, informal settlements, and hostels.