Page 14 - Estimates of Public Entities Revenue & Expenditure 2023

PROVINCE OF THE EASTERN CAPE ESTIMATES OF PUBLIC ENTITIES REVENUE AND EXPENDITURE 2023/24

EASTERN CAPE DEVELOPMENT CORPORATION (ECDC)

1. Legislative Mandate

The Eastern Cape Development Corporation (ECDC) is a schedule 3D public entity in terms of the
Public Finance Management Act (PFMA), which requires the entity to operate and trade under normal
business principles with the objectives of generating profits.

ECDC was established in accordance with the Eastern Cape Development Corporation Act 2 of 1997

to address prevailing socio-economic challenges and market failures within the Province.

The mandate of ECDC is to plan, finance, co-ordinate, market, promote and contribute to the
development of its people in the fields of industry, commerce, agriculture, transport and finance;

focusing primarily on financial and non-financial support to enterprises (emerging and existing),
investor support to local and international companies and government and the delivery of socio-
economic infrastructure.

2. Vision

“A leader in facilitating inclusive sustainable economic growth”

3. Mission

“To promote and coordinate inclusive economic development through innovative and responsive
SMME financing solutions, trade and investment promotion, SMME development and support,

industry and sector opportunities development”.

4. Strategic goals

• A growing, diversified, inclusive, and robust economy in the Eastern Cape.
• Competitive and sustainable SMME sector that contributes to the socio-economic development

of the Eastern Cape.
• Sustainable ECDC that offers competitive products and services

5. Strategic priorities

• Organisational renewal, sustainability, and repositioning ECDC as a Development Financing
Institution (DFI).

• Transforming the property portfolio into a financially viable venture well placed to contribute as
an economic development stimulus

• Driving provincial-wide catalytic economic development initiatives and programmes with focus on
high priority job creation sectors for the EC province.

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