Trade and industry minister Ebrahim Patel says financial support will be made available to businesses of all sizes in urban, rural and township areas. File photo.The government has made available more than R1bn to assist 77 businesses affected by the unrest and riots in parts of Gauteng and KwaZulu-Natal in July.
Support made possible by the Industrial Development Corporation and the National Empowerment Fund will come in the form of loans at zero interest, bridging finance as well as the conversion of portions of selected facilities into grants, he said. “These funds are part of the broader package of relief measures announced by government on July 28, 2021. As part of this relief package, the minister of trade, industry and competition and the minister of small business development provided details of funding of close to R4bn to support affected businesses.”
“The unrest in July 2021 damaged growth, jobs and transformation and affected investor confidence in the domestic economy. To mitigate the damage, the DTIC and its entities launched a special fund to support companies.
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