The Unemployment Insurance Fund (UIF) says it has, through investments by the Public Investment Corporation (PIC), the UIF Labour Activation Programme (LAP) and the Industrial Development Corporation (IDC), been creating jobs and preserving existing ones. In March 2017, the UIF and the IDC signed the Facility and Subscription Agreement to bring into effect a substantial investment of R5-billion. The IDC has since approved 41 qualifying transactions totalling R2.30-billion, of which R130-million was for companies in distress and for job preservation purposes.
