Question NW1629 to the Minister of Finance
07 July 2016 - NW1629
Chance, Mr R to ask the Minister of Finance
(1) (a) How will the National Treasury be involved in the joint fund established by the Government and the private sector to support small business, as announced by the President, Mr Jacob G Zuma, on 9 May 2016, (b) how will the mandate of the specified fund differ from that of government-run development finance institutions and (c) by what date will the specified fund be fully operational; (2) whether the National Treasury will have an oversight function over the specified fund; if not, why not; if so, what are the relevant details; (3) whether the Government will be appointing directors to the entity managing the specified fund; if not, why not; if so, what are the relevant details?
Reply:
The details of the co-investment fund have as yet not been finalised. There is a commitment from government to play a role in the fund and to have representation on the board. The details about how much funding government will provide, if any; how the funding will be structured; and the date of the launch of the fund will be determined in the near future.
The fund will provide the details in due course.