{"id":198996,"date":"2021-08-19T13:13:08","date_gmt":"2021-08-19T11:13:08","guid":{"rendered":"https:\/\/www.myza.co.za\/funding-package-to-support-business-affected-by-unrest\/"},"modified":"2021-08-19T13:13:08","modified_gmt":"2021-08-19T11:13:08","slug":"funding-package-to-support-business-affected-by-unrest","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/funding-package-to-support-business-affected-by-unrest\/","title":{"rendered":"Funding package to support business affected by unrest"},"content":{"rendered":"
<\/div>\n

Cabinet has called on all eligible businesses affected by the recent civil unrest in KwaZulu-Natal and Gauteng to apply for industrial loan support at zero-percent interest, under the R3.75-billion Economic Recovery Support Package offered by government. <\/p>\n

\u201cThe Department of Trade, Industry and Competition (the dtic) and its development finance institutions \u2013 the Industrial Development Corporation and National Empowerment Fund – have put together a funding package to support various business recovery interventions. This includes the rebuilding of infrastructure, equipment, fittings for premises, stock and working capital,\u201d a Cabinet statement said on Thursday.<\/p>\n

The funding will help to alleviate the socio-economic challenges facing businesses affected by the unrest.<\/p>\n

Cabinet has welcomed and endorsed the announcement by JP Morgan to provide financial and non-financial support to the tune of R340 million through the Abadali Equity Equivalent Investment Programme (EEIP). <\/p>\n

The programme consists of Abadali Fund \u2013 a Black Business Growth Fund and Abadali Grant (R40 million).  <\/p>\n

Energy<\/strong> <\/p>\n

Cabinet also welcomed this week\u2019s gazetting of the regulations that increase the threshold for embedded generation from the current one megawatt (MW) to 100 MW.<\/p>\n

In June 2021, President Cyril Ramaphosa announced the amendment of Schedule 2 of the Electricity Regulation Act, 2006 (Act 4 of 2006) to increase the National Energy Regulator of South Africa\u2019s licensing threshold for embedded generation projects to allow for more private generation of electricity.<\/p>\n

\u201cCompanies in energy-intensive sectors will now be able to generate their own electricity without the need for a licence. The new generation capacity will increase energy security by reducing reliance on the power grid and unlocking significant private sector investment.<\/p>\n

\u201cThese initiatives will support inclusive economic growth and job creation within the small and medium-sized businesses, particularly in the manufacturing and green economy sectors,\u201d Cabinet said.<\/p>\n

Meanwhile, South Africa is expected to participate at the upcoming World Expo.<\/p>\n

Cabinet approved the participation in December 2019 but the event was subsequently postponed due to COVID-19.<\/p>\n

\u201cThe multinational event, which is held every five years in different countries, provides a large and attractive market to showcase South African goods and services to a global audience. It will be held as a hybrid of virtual and on-site exhibitions in Dubai, United Arab Emirates, from 1 October to 31 March 2022,\u201d Cabinet said.<\/p>\n

The dtic will next week host a media briefing to unpack South Africa\u2019s participation at the World Expo 2020. \u2013 SAnews.gov.za<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Cabinet has called on all eligible businesses affected by the recent civil unrest in KwaZulu-Natal and Gauteng to apply for industrial loan support at zero-percent interest, under the R3.75-billion Economic Recovery Support Package offered by government.  \u201cThe Department of Trade, Industry and Competition (the dtic) and its development finance institutions \u2013 the Industrial Development Corporation […]<\/p>\n","protected":false},"author":1,"featured_media":198997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38678],"class_list":{"0":"post-198996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-sanews","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2021\/08\/funding-package-to-support-business-affected-by-unrest.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/198996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=198996"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/198996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/198997"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=198996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=198996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=198996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}