Four funds, worth R226 million and managed by the ECDC, will spearhead the province’s efforts in enterprise development.

Premier Nosimo Balindlela announced a host of flagship programmes for the Provincial Growth and Development Plan, including the launch of four new funds to spur enterprise development.

Introducing some of the major programmes falling within the plan, Balindlela said they had now been “packaged” and in some instances were already being implemented.

The four new funds that would be capitalised initially to the tune of R226 million and implemented by the Eastern Cape Development Corporation are:
• The Venture Capital Fund will provide venture capital and equity finance to facilitate black economic empowerment and local economic development in support of the plan’s priority projects in agriculture, agro-processing, tourism and manufacturing.
• The Local Competitiveness Fund will aim to help local partnerships to identify and capitalise on their locality’s competitive advantage through training, technical assistance and investment in public goods.
• The Financial Innovation Fund will support financial institutions to meet their targets under the financial sector charter.
• The Local Government Support Fund will support the strengthening of local government capacity to facilitate local economic development.

Also in the field of manufacturing diversification and tourism, the Premier announced the launch of a timber industries development programme and an information and communications development programme.

As far as tourism is concerned, she said priorities were the development and protection of existing and new parks and reserves; the improvement of infrastructure, especially along the Wild Coast and “the development of a strong marketing brand showcasing a number of core attractions and themes”.

Turning to programmes linked to agrarian reform, the Premier said that one of the keys to poverty eradication lay in the agricultural sector.

In addition to the massive food production programme that aims this year to have 20 000ha of land under maize in impoverished rural areas, Mrs Balindlela said the province was also implementing the Siyazondla comprehensive nutrition programme that next year would see 5 000 of the poorest households in the province producing their own food.

On poverty eradication, another of the strategic focus areas, the Premier said the key programme would be the expanded public works programme.

Also included in this focus area are programmes that accelerate housing delivery and water and sanitation, provide support and care to victims of sexual assault and mitigate the impact of HIV and Aids.