Trade, Industry and Competition briefs media on progress of Economic Relief Package, 19 Oct

Members of the media are invited to a media briefing with the Minister of Trade, Industry and Competition, Mr Ebrahim Patel. the DTIC and its Development Finance Institutions (DFIs), the Industrial Development Corporation (IDC) and the National Empowerment Fund (NEF) will provide an update on the support that has been extended to firms affected by the unrest in parts of Gauteng and KwaZulu Natal in July 2021.

The economic rebuilding package is available in the form of term loans at zero interest, bridging finance, as well as the conversion of portions of selected facilities into grants. So far, the IDC and the NEF have collectively approved funding to over 120 businesses, with officials working around the clock to fast-track the processing of applications to help businesses rebuild and sustain jobs.

Minister Patel will host the briefing alongside the IDC and the NEF, as well as some of the businesses that have received funding support.

Source: Government of South Africa