THE Department of Trade, Industry and Competition (DTIC) together with the Department of Small Business Development (DSBD) say they have started offering financial and non-financial support to all the businesses that were affected by looting and vandalism in parts of the country.
Trade and Industry Minister Ebrahim Patel says R3.9 billion in funding from various government departments has been reprioritised towards supporting distressed business.
Patel says government will focus its efforts on repairing damaged infrastructure, re-establishing supply lines and rebuilding investor confidence.
“The Department of Trade Industry and competition and the department of small business development has reprioritised R1 billion of funding from other programmes that will be shifted now to this response fund. This is being supplemented by R1.3 billion that National Treasury will make available,” said Patel.
“The industrial development corporation has earmarked R1.4 billion from reprioritising funds that they will now bring to this effort and the National Empowerment Fund will put in R2 million.”
Earlier, government sent out a strong message to businesses that only tax-compliant ones will be able to access funds from its planned R36.1 billion relief fund.
- SABCNEWS
