The goal of our Crisis Funding is to support businesses in need and protect the jobs of countless South Africans, whilst continually looking toward how we can bolster economic growth. The following funds are either currently available to businesses in need, or recently closed – this is their story.
The IDC set aside funding of over R1,5 billion to support the economy and communities in distress, post the economic unrest experienced during July 2021.
The Industrial Development Corporation has committed funds to help the nation recover and rebuild all affected infrastructure and communities. This national fund is a response to President Cyril Ramaphosa’s announcement of the National State of Disaster declared on 18 April 2022. The fund is open to other provinces and areas that need relief.
The allocation of R3,6 billion in funding interventions is aimed at alleviating shortages of critical supplies needed to help fight the Covid-19 virus, as well as providing funding to assist sustainable businesses facing difficulties resulting from the pandemic. Funds available are: the Essential Supplies Fund, Distressed Fund and the Small Industrial Finance Distressed Fund.