R2.2 billion shortfall and suspension of MCEP will lead to more job losses

Democratic Alliance press statement by Dean Macpherson MP DA Shadow Deputy Minister of Trade and Industry R2.2 billion shortfall and suspension of MCEP will lead to more job losses 29 October 2015 Release: immediate The announcement that the Manufacturing Competitiveness Enhancement Programme (MCEP) will not be accepting any more applications due to its R2.2 billion shortfall…

Questions raised over suspension of manufacturing programme

The decision to suspend government’s competitiveness enhancement scheme has raised serious questions about the overall management of the initiative. The Department of Trade and Industry announced at the end of October that new applications for the Manufacturing Competitiveness Enhancement Programme (MCEP) had been suspended “temporarily”. Several questions relating to the management of the programme, including…

Firms left in lurch by funding fix

Trade and industry has suddenly put the brakes on a manufacturing incentive programme. Carambola Invest dries and exports pineapples in a poor area of the Eastern Cape for local supply and export. The pineapple-growing industry has been under tremendous pressure in recent years as prices fell in light of global oversupply. “There were only just…

Factories in distress as fund dries up

2015/10/30 05:05 By Mark Allix Picture: THINKSTOCK The R5bn manufacturing competitiveness enhancement programme, established by the government to cushion local manufacturers from the effects of the global financial crisis, has been exhausted, leaving a lot of companies in distress. The Department of Trade Industry, under which the fund falls, on Wednesday said it had suspended…

MCEP Announcement

Following the MCEP notices sent to clients regarding the rejection of their applications and the attached press release, we have managed to obtain clarification from the DTI that: The notices were only sent to affected clients.  Thus implying that if your client did not receive this notice, it is likely that it does not apply…

Techstars launches in Cape Town

Techstars has opened applications for its first programme in Africa – the Barclays Techstars Accelerator. In partnership with Barclays Bank, the programme is focused on financial technology start-ups that are trying to innovate and disrupt the banking industry. Techstars Executive Director Greg Rogers told MyBroadband that the initiative aims to empower entrepreneurs. This is achieved…

R23bn to fund development of black industrialists – Ebrahim Patel

Minister Patel’s Budget Vote announces R23billion funding for black industrialists, a retail sector inquiry and conditionalities for tariff support. Economic Development Minister Ebrahim Patel today announced a R23 billion boost towards the development of black industrialists when he delivered his budget speech in Parliament. The budget speech contained a range of competition, trade and infrastructure…