Page 19 - Estimates of Public Entities Revenue & Expenditure 2023

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

detrimental to all businesses and resulted in the EC economy being negatively affected. The risk of
business closure and job losses are very high and probable.

Property and Strategic Projects

The rental collections are performing at 67% of the billing to date. The collection rate is attributable to

disrepair of buildings and infrastructure and the delinquency of tenants.

Maintenance and refurbishment of the property portfolio has been prioritized in the ECDC Property
Modernization Strategy. The strategy seeks to rationalize the size of the portfolio through disposal of

non-core assets, improve its efficiency through refurbishment and position the portfolio to take
advantage of future growth. This will be achieved through raining capital from disposals, leveraging
private sector investment into strategic properties and securing capital funding from provincial

government.

9. 2023/24 Performance outlook

In the 2023/24 financial year, the ECDC is targeting the following key performance outputs:

• Attract local and foreign direct investments worth R350 million into the province.
• Facilitate exports worth R200 million.
• Facilitate training in various sectors for 600 people.

• Facilitate the creation and saving of approximately 1,730 jobs ECDC lead programs.

• Provide financial support to 30 co-operatives, including 10 coops dedicated to Small Scale
Fishing.
• Support at least 75 SMME’s with integrated export support.

• Facilitate development finance for at least 200 SMME’s.
• Pilot project on Rural based Funding (Job Stimulus) for about 25 SMMEs.

• Ensure that at least 483 SMME’s are assisted with non-financial support.

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