THE Eastern Cape Development Corporation (ECDC), in line with the Eastern Cape Export Strategy, has set up an Export Market Access Fund to support efforts towards accessing global markets by Eastern Cape businesses, stimulate job creation and position the Eastern Cape province as a reliable source market for exports.
The Eastern Cape Export Strategy is aimed at positioning the province as a competitive location for exports and export-oriented investments, whilst growing the pool of value-added exporters of goods and services from the province. This is done through the facilitation and improvement of exports and the creation of a conducive environment in which government, business and communities collaborate in exporter enterprise development and export promotion.
The Eastern Cape Export Strategy acknowledges the financial resource constraints that the companies, especially the Micro, Small and Medium Enterprises (MSME), face when entering international markets. In recognising these constraints, the ECDC and its strategic partners have found it imperative to establish a mechanism that will provide export support to local companies in the Eastern Cape province.
The Export Market Assistance Fund assists new and existing exporters in the Eastern Cape province by providing financial support for technical export requirements needed for entrance into the international market.
- The Fund provides export funding to export-ready local companies;
- Assists with packaging and positioning of local products and services for export markets;
- Addresses various technical needs and challenges relating to international market access faced by local companies;
- Positions the Eastern Cape province as a reliable source market for exports;
- While stimulating job creation through increased exports.
The Export Market Assistance Fund is being implemented in partnership with the Buffalo City and Nelson Mandela Bay Metropolitan Municipalities Export Helpdesks. The Fund provides finance in the form of non-repayable cost-sharing financial incentives where businesses that are 51% black, female, youth or disabled-owned are eligible for funding capped at R350 000, with 80% of the approved amount being covered by the ECDC and 20% by the applicant. Funding support for applicants that do not fall into the abovementioned category is capped at R300 000 with the same cost-sharing ratio applicable.
Access to the Fund, subject to budget availability, is open throughout the year.
