Page 4 - Estimates of Public Entities Revenue & Expenditure 2023

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

FOREWORD

The Public Entities are a very important strategic asset and tool for government in both time of
prosperity and strife. Our province is blessed to have these to drive its key and urgent policy priorities

targeting economic growth and development including some in both the social and environmental
functions. Public Entities play a pivotal role in poverty alleviation and unemployment, especially
Special Economic Zones which play a critical role in economic recovery and development.

Coega Development Corporation (CDC) has been allocated funding by National Treasury from the
Budget Facility for Infrastructure (BFI) for bulk infrastructure for the construction of a new bulk sewer
connection pipeline, the upgrading of bulk infrastructure to accommodate the expected increase in

demand, construction of critical bulk water (return effluent) infrastructure to support economic growth
and enable a human settlement development in Motherwell and the Coega Development Corporation
which is now a Special Economic Zone in terms of the SEZ Act. Furthermore, funding has been

allocated for the operational cost and the Wild Coast Industrial Park support through CDC and
refurbishment of Data Centre at East London Industrial Development Zone (ELIDZ) which is now
referred to as East London Special Economic Zone in terms of the SEZ Act . The ELIDZ has concluded
an investment agreement for the current year with a combined investment value of R70 million in the

logistics and distribution industry.

With regards to the Development Finance Institutions (DFI), the Eastern Cape Development

Cooperation (ECDC) has been allocated funding for the establishment of the Economic Development
Fund, Automotive Industry Development Corporation operations as well as skills development and
support, film production, agro-processing and the recapitalisation through property modernisation,
loan support and SMME support. The ECDC continues to showcase its capacity to host local, national

and international film productions in collaboration with ECPACC. The Eastern Cape Provincial
Government established a consolidated provincial economic development fund for economic
development catalytic initiatives or economic value preservation ventures, the purpose of the Fund is

to support growth in the Province addressing funding related development impediments.

DRDAR through ECRDA is collaborating with ECDC for the Eastern Cape Agriculture and Agro-
processing Blended Finance Scheme project for the mobilisation of additional finance towards

sustainable development for Agri-entrepreneurs. ECRDA is undergoing an organizational review with
the purpose, amongst other things, to resuscitate and enhance performance the RED hubs.

ECSECC has established project management office (PMO) for Project Khawuleza to strengthen
research capability. Further funding has been allocated for the implementation of the new Liquor Act
and development of new licensing system at Eastern Cape Liquor Board.

The province’s is commitment in supporting the film industry and is seen through shooting telenovela
which resulted in the creation of 788 jobs (including of temporal) and business for 123 SMME’s that

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