Metro launches over R120-million Ekurhuleni Community Enterprise Development Fund

November 21, 2019

BOKSBURGADVERTISER / 20 NOVEMBER 2019 - 14.11 / RIAAN ENGELBRECHT

 

 

The Ekurhuleni Council recently approved the implementation of the Ekurhuleni Community Enterprise Development Fund (ECEDF) Policy in line with the Municipal Finance Management Act.

 

According to Nhlanhla Cebekhulu, divisional head communication and media relations at the metro, the purpose of the ECEDF is to support the development of community enterprises in the form of individual entrepreneurs, small, micro and medium enterprises, cooperatives, informal traders and formal businesses as prescribed.

 

 

 

 

“The ECED fund is anchored by the Ekurhuleni Ten Point Economic Plan; a deliberate programme to position Gauteng Eastern Development Corridor as the anchor and footprint of the provincial economy,” said Cebekhulu,.

 

He said the fund seeks to provide assistance for 2019/20 financial year and proposals are sought to focus on providing creative and innovative business concepts, solutions and programmes that will address:

  • Township economy

  • Industrialisation

  • Business services

  • Environmental services

  • Human development

This fund is characterised by the following groups:

Phanda (SA slang for ‘hustling’) calls to:

  • Local entrepreneurs

  • Enterprises

  • Cooperatives

“Please note this is for non-financial support (business plan) and post investment support through mentorship and business support. Application forms are available at all youth offices at customer care centres and closing date is January 31, 2020.”

 

Cebekhulu said that funding threshold is R50 000 to R1,5-m.

 

 Ximilani (meaning ‘germinating seed’) and is aimed at:

  • Business incubators

  • Soft, technical and business skills development providers

  • Women, youth and PWD development formations

The funding threshold is R100 000 to R1,5-m.

  • Agriculture development organizations. Funding threshold is R100 000 to R3-m.

  • Entrepreneurship pitching boosters development finance institution – Funding threshold is R100 000  to R6-m

Cebekhulu said application forms are available from all youth offices at customer care centres and closing date is January 31,  2020.

 

Fetola (meaning ‘transform’) has two categories:

 

A: ECED Fund seeks to partner on a 50:50 cost and risk sharing basis for 2019/20 financial year, and targets

  • Development finance institutions,

  • State-owned enterprises,

  • Corporate social investment partners,

  • Enterprise and supplier development,

  • Private funds

Application forms are available on the City’s website – www.ekurhuleni.gov.za

 

Funding threshold is R100 000 to R6-m.

 

 B: The ECED Fund in partnership with NEF’s purpose is black-owned business or industrialists, as defined by the applicable national policies and legislation. It targets:

  • Black-owned business or industrialists

  • Black-owned and managed business.

Application forms are available online from www.nefcorp.co.za. This fund is for entrepreneurs located and doing business in the City of Ekurhuleni. Funding threshold is R100 000 to R8-m.

 

 Information sessions

 

Information sessions on the fund take place across the City through to January from 11am to noon.

In Boksburg it will be held on December 10 in the city hall, Trichardts Street.

 

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LINK : https://boksburgadvertiser.co.za/353721/metro-launches-r120-million-ekurhuleni-community-enterprise-development-fund/

 

Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

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