DTI rolls out grants plan
THE Department of Trade and Industry has unveiled more details of its newly launched Manufacturing Competitiveness Enhancement Programme.
Trade and Industry Minister Rob Davies officially launched the programme in Cape Town last week and the department is now holding provincial workshops to familiarise manufacturing players around the country on how they can participate and benefit from the new initiative.
The plan consists of two parts, production incentives and industrial financing loan facilities, and the department says "the objective of the incentives is to promote enterprise competitiveness and job retention".
To qualify for the programme, "the applicant must be a registered legal entity in SA, achieve at least level four B-BBEE contributor status, have existing operations in SA and the approved project may not result in a reduction of the base-year employment levels".
The grant received from the department is sourced from the Treasury.