Hon Speaker, the ANC welcomes an announcement made by the Minister of Economic Development that the Industrial Development Corporation, IDC, has committed R25 billion to a new investment in the green economy over the next five years. In addition, the IDC will also make R5 billion available in funding over the next five years to the Agro- processing sector.
The Department of Economic Development, in partnership with the IDC, has started with the installation of solar water geysers in new low-cost houses. To date, it had 25 000 units installed, with a further 170 000 units planned. This project will contribute to employment creation, as well as strengthening the local manufacture of components, as we intend to improve the sourcing of components to at least 85% local content shortly.
The ANC-led government is committed to improving the lives of our people, and will continue to engage with various stakeholders to find an integrated approach towards job creation and poverty alleviation. Together we can make this the year for consolidating people's power for the national democratic society as we move towards the 100 years of a selfless peoples' struggle. I thank you. [Applause.]