Question NW779 to the Minister of Trade, Industry and Competition

Share this page:

25 May 2020 - NW779

Profile picture: Macpherson, Mr DW

Macpherson, Mr DW to ask the Minister of Trade, Industry and Competition

What (a) number of applications have been received for funding relief through the (i) Manufacturing Competitiveness Enhancement Programme COVID-19 Fund for Essential Supplies, (ii) Relief Funding for Companies in COVID-19 Distress and (iii) COVID-19 Black Business Funding Solutions in each province to date, (b) number of the specified applications have been (i) approved and (ii) rejected in each case in each province and (c) was the Rand value of each (i) approved and (ii) rejected application in each case in each province?

Reply:

I am advised as follows:

The COVID-19 Black Business Fund administered by the National Empowerment Fund (NEF) received over 250 applications totalling R700 million with approximately 30% of the applications from Gauteng, 20% from the Western Cape, 20% from KwaZulu-Natal and the balance from the other 6 provinces. A total of 12 applications valued at R78 million have been approved since inception of the Fund - of which 4 of the applications are from Gauteng; 5 from KwaZulu-Natal; and 3 from the Western Cape. Transactions valued at approximately R400 million have been declined for various reasons including applicants not being manufacturers of essential products.

Table 1 below outlines the performance of the Manufacturing Competitiveness Enhancement Programme (MCEP) COVID-19 Essential Supplies and COVID-19 Distress Funding administered by the Industrial Development Corporation (IDC) since inception up to 08 May 2020.

Table 1

-END-

Source file