Question NW2688 to the Minister of Trade and Industry
05 December 2016 - NW2688
Hill-Lewis, Mr GG to ask the Minister of Trade and Industry
With reference to page 264 of the 2016 Adjusted Estimates of National Expenditure regarding his department, (a) what is the reason for the R200 000 virement for the Progressive Youth in Business, (b) what is the specified amount intended for, (c) what process was followed in awarding the amount and (d) who are the (i) directors and (ii) office-bearers of the Progressive Youth in Business?
Reply:
(a) the dti received a proposal for the development of a Mobile Application from Regoapele Capital Wealth Engineering. During the Adjustment Estimates of National Expenditure, a virement of R200 000.00 was requested with an intention to provide funding towards projects for youth economic empowerment. Of the R200 000.00, R100 000.00 was allocated to Regoapele Capital Wealth Engineering in-line with the dti sponsorship policy. The remaining R100 000.00 will be used for other strategic core functions in-line with the mandate of the dti.
(b) The amount was meant for a Mobile based Application initiative that will serve as a platform to connect youth led initiatives with government departments, DFIs, JSE listed companies amongst others in providing access to information, technical and expert advice as well as improved access to incentives.
(c) the dti policy, process and procedures for sponsorship was followed.
(d) The Executive Director for Regoapele Capital wealth Engineering is Mr O Moshori.