Unrest Business Recovery Fund

IDC RESPONSE

TO SUPPORT OUR ECONOMY AND COMMUNITIES

THE IDC SET ASIDE FUNDING OF OVER R1,5 BILLION TO SUPPORT THE ECONOMY AND COMMUNITIES IN DISTRESS

R1.4-billion – post-unrest business recovery fund to assist all businesses (existing and new clients) that operate in sectors the IDC funds. The funding will be available at concessionary rates to ensure significant development impact. For instance, bridging loans for insurance payouts will be offered at 0%, with other debt facilities priced at 5%.

The considered response comprises a total recovery package totaling over R1.5 billion:

 

  • R 1.4 billion post unrest business recovery fund to assist all businesses (existing and new clients) that operate in sectors the IDC funds. The funding will be available at concessionary rates to ensure significant development impact. For instance, bridging loans for insurance payouts will be offered at 0%, with other debt facilities priced at prime plus 1%.
  • R 100 million regional programmes grant allocation to provide technical and financial assistance to uninsured small businesses in townships, rural areas and small towns that have been affected by the unrest and associated supply chain disruptions.
  • In Gauteng, we are partnering with Gauteng Enterprise Propeller, which has set aside R50 million to co-invest with IDC on the proposed funding of R100 million.
  • R 10 million CSI allocation to support food security and recovery efforts in affected communities. This funding will cater for school infrastructure rebuilding, support for care facilities and clinics. IDC’s focus will mainly be on rural, outlying and less developed areas that now face increased vulnerability. We will be working with our established NGO partners to ensure reach and impact.
  • In addition, the IDC will be administering the DTIC’s R400 million Manufacturing Competitiveness Enhancement Programme (MCEP) Economic Stabilization Fund. The fund will support manufacturing companies affected by the unrest, including those impacted by associated supply chain disruptions. The fund will offer concessionary funding to affected companies through interest free loans

 

For enquiries, please send an email to: recovery@idc.co.za

CLICK HERE TO APPLY FOR

UNREST BUSINESS RECOVERY FUND