Current Edition >> Archives Section >> Spot Coverage >> 17-30 March 2006

IDC R1 billion for SME's

The Industrial Development Corporation (IDC) has announced that it is making R1 billion available at low interest rates for SME's across all sectors divided as follows :
· R600m for the Pro SME Jobs Scheme, to promote employment creation and SME development by encouraging labour intensive start-ups and expansions. Loan funding will be available for SME's across all sectors of economic activity, and shall be priced at an interest rate of prime less 5%.
· R100m for the Pro Franchising Scheme, aimed at assisting emerging entrepreneurs with capital funding for the establishment of new franchised outlets, as well as assist franchisers that have at least three outlets to expand their franchise networks. The loan funding will be priced at prime less 5%. Black ownership is compulsory. It can be a rural or township development and or in a 'poor' province. · R200m for the Pro Orchards Scheme, to promote job creation in the horticultural sector and promote rural development. Loan funding will be priced at prime less 2,7% and the hurdle rate for equity investments is 2,5% real after-tax internal rate of return (IRR). Participation of historically disadvantaged individuals will be one of the criteria, with a minimum of 75 jobs to be created.
· R100m for the Pro Forestry Scheme, which has the two broad objectives of development of new commercial forestry areas with black ownership and facilitating the transfer of existing commercial forestry areas to businesses with a broad-based black shareholding.
· The Pro BEE Expansionary Acquisitions Scheme aims to enable black entrepreneurs to gain access to economic opportunities through acquiring substantial shareholdings in established enterprises. Shareholding to be broad based with at least 15% women participation.
v General criteria
• Own contribution: A minimum of 2.5% to a maximum of 40%
• For expansionary acquisitions, the minimum must be an equity acquisition of 50.1%
• Must create 10 new jobs or 75 jobs for the Pro Orchards Scheme
• Maximum re-payment 15 years
• Minimum finance requirements: R1million
• First-come-first-served rule applies.
For more info contact Gerrit Davids at (021) 762 7496, or fax (021) 797 8198 or 086 684 8254 or cell. 082 496 1657 or e-mail: advisor@taranis.co.za

Search for brightest young minds

The annual search is on for South Africa's 100 brightest, most dynamic and passionate students. Last year six successful Free State students made it into the final 100 and the question is whether the province can secure more positions this year?
The project is being arranged by Brightest Young Minds (BYM), a University of Stellenbosch initiative linked to AIESEC International, seeking to bridge the often wide gap between university life and the corporate world. The 100 extraordinary new BYM recruits, chosen through a rigorous selection process from thousands of entries, will be invited to attend the prestigious, all-expenses paid, seventh annual BYM conference scheduled to take place from 2 to 9 July 2006 in Cape Town. Says BYM president Christine Strutt : “Brightest Young Minds believe they will facilitate the transfer of invaluable professional knowledge from business icons to students, thereby increasing students' confidence and enabling them to discover their passions and become SA's future entrepreneurs and captains of industry.”
Final year or postgraduate students from any tertiary institution across South Africa are invited to apply to become a 2006 BYM. For more info, visit www.bym.co.za or call (021) 425 7111 or elizabeth@trafficonline.co.za.