http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.50Change: 0.09
R/$ = 10.50Change: 0.06
Au 1294.90 $/ozChange: -0.67
Pt 1413.00 $/ozChange: -15.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Nelson Mandela 1918 - 2013   Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science & Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 01, 2010

CIDB, Nedbank join forces to assist emerging contractors

Back
Nedbank|Nedbank Small Business Services|PROJECT|Projects|Small Business Services|South Africa|Gross Domestic Product|Project Finance|Required Financial Management|Gerard Naidoo|Sibongiseni Ngundze
nedbank|nedbank-small-business-services|project|projects|small-business-services|south-africa|gross-domestic-product|project-finance|required-financial-management|gerard-naidoo|sibongiseni-ngundze
© Reuse this



The Construction Industry Development Board (CIDB) and the Small Business Services division of banking group Nedbank on Friday agreed to collaborate on assisting small and medium-sized enterprises (SMEs) in the contractor sector.

The two parties signed a memorandum of understanding to work together to provide business management skills training and mentoring to CIDB registered contractors, as well as to share information and advise SMEs seeking financial support.

Nedbank Small Business Services managing executive Sibongiseni Ngundze told Engineering News Online that the two partners were trying to overcome the developmental challenges faced by small contractors, as well as trying to ensure that they could bridge the gaps between contractors and financiers.

The parties indicated that few emerging construction enterprises were likely to meet the stringent conditions demanded for public and private sector projects.

These contractors often struggled in terms of high capital outlay requirements, project and business management capability, and in terms of capacity to deliver in volumes and to handle large projects.

Most of these challenges related, directly or indirectly, to an inability to access project finance and a lack of the required financial management.

Ngundze emphasised the importance of the SME sector for South Africa’s growth, noting that SMEs contributed significantly to the country’s gross domestic product and job creation.

The parties have agreed to jointly provide both financial and nonfinancial support to the small contractors.

CIDB construction economy programme manager Gerard Naidoo said that the parties would, in the short term, start an outreach programme to small contractors in all provinces of the country.

This would be made possible through both Nedbank and the CIDB's footprints, which stretched across all provinces.

The CIDB would provide SMEs with guidelines on appropriate procurement methodologies for registered contractors, while also ensuring participation in the national enabling framework including access to finance, training, mentoring and knowledge tools for contractors. 

Naidoo noted that the parties would aim to deal with all the issues experienced by small contractors, across the value chain.

The CIDB had similar agreements for collaboration with Absa, First National Bank and Standard Bank, as well as with organisations such as the Small Enterprise Development Agency and development finance institutions Khula and the Development Bank of Southern Africa.

Edited by: Mariaan Webb
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other Construction News
MORE IN SA Phase 2 should see local content on the mainline locomotive increase from 65% to 80% by the end of 2014
Updated 7 hours ago The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
HYDROPOWER POTENTIAL The 2 067 MW Laúca hydropower station will provide electricity for about 750 000 Angolans
Updated 7 hours ago Work on the 2 067 MW Laúca hydropower station, in Angola’s Kwanza riverbed, has started. The country aims to have the facility commissioned by the end of 2017, says Angolan State-owned power utility Empresa Nacional de Electricidade de Angola (ENE) international...
Updated 7 hours ago As part of Goscor Group, Goscor Lift Truck Company (GLTC) has been providing best practice in industrial warehousing equipment solutions for the past 30 years. The company provides a range of market-leading products, including Crown, Doosan, Bendi and Hubtex. This...
More
 
 
Latest News
Renewable-energy projects, such as this Northern Cape solar farm, seen as key to low‐carbon energy supply.
Upfront investment costs will and should remain a critical consideration as South Africa moves to upscale and accelerate its infrastructure programmes. But one of the lead authors of the latest Intergovernmental Panel on Climate Change (IPCC) argues that the...
The barrier to efficient water service delivery in South Africa was not of a technological nature but rather related to legal and Constitutional challenges, Water Research Commission (WRC) CEO Dhesigen Naidoo said on Thursday. Opening a WRC debate under the theme...
ANC SG Gwede Mantashe (L), chairperson Baleka Mbete (C) and President Jacob Zuma (R)
The creation of a small and medium enterprises department is very likely, African National Congress national chairwoman Baleka Mbete said on Thursday. "We are talking about a focused department looking at small and medium businesses because the departments must be...
More
 
 
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
 
 
 
 
 
This Week's Magazine
Updated 7 hours ago The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
MORE IN SA Phase 2 should see local content on the mainline locomotive increase from 65% to 80% by the end of 2014
Updated 7 hours ago The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
Updated 7 hours ago The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
Updated 7 hours ago AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
Updated 7 hours ago South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks