KZN Treasury approves flood relief fund for rural businesses, informal traders
The KwaZulu-Natal Treasury has approved the reprioritisation of R67.5-million in funding to the province’s Department of Economic Development, Tourism and Environmental Affairs to provide relief for township and rural businesses, as well as informal traders affected by the recent floods.
Premier Sihle Zikalala made the announcement during the Growth Coalition Business Breakfast held at the Inkosi Albert Luthuli Convention Centre on May 12.
A survey by the Department of Trade, Industry and Competition (DTIC) shows that at least 826 companies were affected by the floods and the cost of the damages to the companies is estimated at R6.4-billion.
The DTIC Infrastructure Support Grant will also be used to provide cost-sharing grant funding to small, medium-sized and microenterprises (SMMEs) and large businesses affected by the floods.
SMMEs and large manufacturing companies affected by the floods will be assisted through the Manufacturing Competitiveness Enhancement Programme Industrial Loan Component that seeks to assist by financing businesses that are not covered by insurance or by funding the insurance cover shortfall.
Further, the Industrial Development Corporation’s Flood Relief Fund will assist companies affected by the floods through financing businesses that are not covered by insurance or by funding the insurance shortfall of insured companies.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation