The SRD Grant is compensated to around 9 million folks residing in South Africa each month. It’s vital that you Observe that this is the only grant straight intended to support unemployed Older people residing in the country.
It was introduced back in 2020 to assist unemployed those who had minor to no prospective clients of acquiring work as a consequence of lockdowns. Though it absolutely was to begin with meant to help men and women for the duration of 3 months, its implementation continues to be extended on various instances.
The latest Formal extension on the SRD grant was 2 November 2023 when Finance Minister, Enoch Godongwana introduced the extension from the R350 grant which was Earlier set to end in March of 2024. The most recent extension ensures that beneficiaries can accumulate their R350 grant right until March 2025.
Through the 2024 Budget speech, Godongwana announced that work was underway to Enhance the COVID-19 Social Relief of Distress Grant by April 2024. The Minister indicated that these advancements will be within just The existing fiscal framework.
National Treasury will perform While using the Division of Social Development to make certain that improvements With this grant are captured in the final Regulations … To the extension of the grant outside of March 2025, the social security coverage reforms, together with the funding supply, will be finalised.
Provisional allocations for 2025/26 and 2026/27 was also supplied for the implementation of your SRD grant just after obtaining a budgetary allocation of R33.6 billion for 2024/twenty five. Provisional allocations for 2025/26 and 2026/27.
Therefore really should the government see in good shape, the implementation of your grant could well be extended right up until March 2027.
We've viewed the advantages of this grant and prolong it and improve it as the next step in direction of money help for that unemployed.
Impact in the R350 Grant
In the 2024 State from the Nation Address (SONA), President Cyril Ramaphosa praised the effect on the grant arguing that it does not only supply those with what they should survive and also serves as an investment of their upcoming.
During the midst with the pandemic, we launched the SRD Grant which at the moment reaches some 9 million unemployed people each month.
The president more disputed that grants and social assistance recognized a society dependent on government help.
These grants read more and subsidies do much more than give people what they need to live, they are an investment in the future. Many people tend to dismiss this and say we are establishing a dependent society, we are investing in our people and investing in their future as well.