Page 15 - Estimates of Public Entities Revenue & Expenditure 2023

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

• Transforming the development finance service offering for scale and responsiveness and
accelerating SMME development and support.

• Growing the EC economy through directed and aggressive trade and investment promotion.

6. Main Services

ECDC offers a range of finance products and enterprise support services related to the following

operational areas:
• Rural & Enterprise Financial Services and SMME Development;
• Investment Management, Trade and Investment Promotion;

• Properties and Strategic Projects; and
• Economic Development Coordination and Facilitation.

7. Programme details

• Rural & Enterprise Financial Services and SMME Development
This program consists of the SMME development finance support, which provides a suite of
finance products to small, medium, and micro enterprises (SMME) and established

entrepreneurs, including Non-financial Business Support.

The Unit also administers the Imvaba Co-operative Fund for the development and support of the

co-operative organisations and EC Jobs Stimulus Fund for the support of the distressed industries
through an incentive for saving, retaining, and creating jobs in the Eastern Cape Province.

• Investment Management, Trade and Investment Promotion

This programme consists of 3 functions. Innovation assists prospective clients in designated
sectors to access support to exploit and optimize value chains. Trade promotion or market access

provides access to foreign and international market for local products. Investment promotion
attracts foreign and local direct investors to come and invest in the province.

• Properties and Strategic Projects

This program leases out industrial, residential and commercial premises to tenants (local, foreign
and international) and provides project management services to sector departments and public
entities for the implementation of socio-economic infrastructure development projects.

Residential properties are being disposed to raise more capital to refurbish and renovate existing
industrial and commercial properties.

• Economic Development and facilitation
The programme is in line with ECDC’s mandate as a lead development agency of the province
and is mandated to coordinate planning of these aspects for economic development. Most entities

cannot afford the high-level planning capabilities, the program then engages a specialist
development planning working on a mix model of delivery, direct from internal resources and as

14