Essential Supplies Fund

COVID-19

ESSENTIAL SUPPLIES FUND

THE IDC SET ASIDE R800 MILLION TO SUPPORT COMPANIES PROVIDING ESSENTIAL SUPPLIES

The fund aims to give financial support to companies providing essential supplies to address the COVID-19 Pandemic. This fund includes R 300 million from the Department of Trade, Industry and Competition’s Manufacturing Competitiveness Enhancement Programme (MCEP)

 

The IDC Covid-19 Essential Supplies Intervention is designed to provide funding to companies that have capacity to acquire and/ or manufacture products needed to treat, curtail and combat the spread of the Covid-19 pandemic.

 

WHO MAY APPLY FOR THE COVID-19 ESSENTIAL SUPPLIES FUND?

 

You have a track record of manufacturing similar products

  • In the case of imports, you are able to import at the required scale (and there is insufficient local manufacturing capacity)
  • You are an accredited supplier (in either the public or private sector)
  • You have a contract or purchase order with either the South African government or a similar large customer for essential supplies
  • You can demonstrate historical profitability
  • Your mark-up is reasonable to prevent profiteering and price-gouging, and
  • Your geographic focus area is South Africa and the Southern African Customs Union

ESSENTIAL MEDICAL SUPPLIES INCLUDE:

Bulk supplies of disinfectants and sanitisers

Accredited masks

Accredited test kits

Medical gloves

Sanitizer units (hand or industrial)

Packaging (bottles, bottle caps, pumps, sachets)

Cleaning materials

Chemicals

Approved drugs

Ventilators and filters

Nebulisers and nebulising agents

Toilet paper, wipes, tissue paper, sanitary pads

Hospital beds

Oxygen tanks and products

Aprons

Safety visors

Urgent regulatory and compliance testing of products or treatments

Raw materials to manufacture essential products

THE FOLLOWING FINANCIAL INSTRUMENTS ARE AVAILABLE:

 

  • Short-term loan for once-off contract or import funding
  • Revolving credit facility
  • Guarantees to banks for banking facilities, imports and ordering requirements

 

EXCLUSIONS

 

  • Financing for normal expansions
  • Refinancing of existing facilities
  • Share buy-backs
  • Payment of non-operational expenditure

 

TERMS OF FACILITY

 

  • IDC loan and trade finance facilities: P+1% p.a.
  • MCEP loan facilities: 2.5% p.a.
  • Guarantees: 2% p.a.

 

HOW TO APPLY

 

Email covid@idc.co.za.

TOGETHER, LET’S FIGHT COVID-19

TO SAVE LIVES – AND JOBS