Page 16 - Estimates of Public Entities Revenue & Expenditure 2023

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

well as third party providers to co-ordinate, facilitate, give wind to initiatives using a proven recipe
and as part of set up. Interventions include commercial activity anchoring, infrastructure
investments, private sector investment mobilization, community consumption culture shift,

institutional collaboration, and human capacity development.

8. 2022/23 Performance Review

8.1 Key achievements

• Rural & Enterprise Finance and Business Support

As at end of the third quarter of 2022/23, the unit disbursed loans to the value of R38.1 million to 55
SMMEs. The total value of funds leveraged amounted to R50.4 million, which resulted in the exceeding

of the annual target of R30 million in funding leveraged directly for SMMEs. The long-erm loans to the
value of R21.1 million, were secured through partnerships with SEFA. Furthermore, the ECDC has
secured further funding to the value of R27 million through collaborative partnerships with Transnet
for SMME export readiness training, and the Department of Rural Development and Agrarian Reform

(DRDAR)/ Eastern Cape Rural Development Agency (ECRDA) for the establishment of a blended
finance scheme for enterprises in the agriculture value chain.

The unit also offers financial incentives through the Job Stimulus Fund and the Imvaba Cooperatives
Fund as well as non-financial incentives through Business Support Services. Business and financial

development support services have been provided to 159 SMMEs and 30 co-operatives, with 504
SMMEs supported with training and development. The support comes in the form of feasibility study
support, business plans for start-up businesses as well as support to existing SMMEs with marketing

material, website development, assistance with financial statements, and mentorship, training and
marketing opportunities through the creative industries programme. Several targeted mentorship
programmes have been initiated to support designated groups and/or priority sectors.

The number of jobs saved and/or created through the Jobs Protection and Stimulus Fund amounted
to 887 against an annual target of 900.

• Investment Management, Trade and Investment Promotion

By the end of the third quarter of 2022/23, the investment promotion facilitated over R503.5 million

investment into the province, with 375 jobs facilitated trade and investment support by companies
mainly in the marine manufacturing, tourism and renewable energy. The trade promotion unit as part
of ECDC’s ongoing support to exporters provided 106 SMME’s with integrated export support through

their involvement in various exhibitions and international missions.

Export Help Desks in Port Elizabeth and East London are operational. Government, private and foreign
investment into the Province totals R503 million to date, with R110 million worth of exports facilitated.
Four (4) development projects have been facilitated especially in the marine sector of the economy

and film industries.

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