The announcement follows UIF's agreement in 2009 to place a R2bn bond with the IDC to provide funding to businesses that will create and save jobs.

The IDC has approved R2,5bn since 2010, saving 13878 and creating 12431 jobs respectively.

She says co-operation between the IDC and the UIF demonstrates a serious commitment by government to deal with unemployment.

IDC CEO Geoffrey Qhena says the funding is targeted at start-up, expansionary acquisition and expansions of existing businesses.

The initial R2bn UIF/IDC bond, which was offered to businesses at a fixed concessionary rate, will mature in 2015.

UIF Commissioner Boas Seruwe says the good performance of the initial bond prompted the UIF to invest an additional R2bn with the IDC, in four bonds of R500m each.

Meanwhile, with the Frischgewaagd-Ledig Mining Project in operation, it is reported that employment opportunities for the Ledig Community continue to rise.

Close to 50% of all staff employed at the mine are from Ledig. As of January 2012, employees of various contractors on civil and earthworks projects were 344 of which 171 are from Ledig.

Wesizwe also employed another 20 staff members at its Rustenburg office. 70% of these employees are from the local community.

Currently, there are 25 job vacancies for the community members with skills and expertise as security guards with dog handling experience, steel fixers, concrete hands and shutter hands.

Mass employment and more long-term employment opportunities will only commence around 2016 as Wesizwe strives to meet their 2017 deadline for commissioning the shafts and commencing with production build-up at the mine site.