http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.09Change: 0.09
R/$ = 11.87Change: -0.04
Au 1206.30 $/ozChange: 1.62
Pt 1149.00 $/ozChange: -3.00
 
 
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
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 01, 2010

CIDB, Nedbank join forces to assist emerging contractors

Back
Construction|Engineering|Africa|Contractor|PROJECT|Projects|Training|Africa|Product|Services
Construction|Engineering|Africa|Contractor|PROJECT|Projects|Training|Africa|Services
construction|engineering|africa-company|contractor|project|projects|training|africa|product|services
© 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 (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
South Africa’s credit rating is at risk of being downgraded if government fails to pay the debt taken on to fund infrastructure programmes, such as the upgrading of Gauteng’s major highways, National Treasury deputy director-general for tax and financial sector...
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
More
 
 
Latest News
South Africa’s crude steel production dropped by a sizeable 17.2% year-on-year to an estimated 530 000 t in April, amplifying a global trend that saw world steel production decline by a comparatively marginal 1.7% to 135-million tons in the fourth month of the year....
The Treasure the Karoo Action Group (TKAG) on Friday called on government to delay publishing final regulations and issuing rights for shale gas exploration in the Karoo, until a 24-month strategic environmental assessment (SEA) has been concluded. TKAG CEO Jonathan...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in 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...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
FREDRIK JEJDLING Sustainability becomes an important part of a business’ decision-making process
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...
 
 
 
 
 
 
 
 
 
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
Subscribe Now for $96 Close
Subscribe Now for $96