13 February 2009
MEC for Economic Development and Planning, Craig Padayachee is confident
that the Mpumalanga Growth Fund will build a quality specialised project
finance portfolio in the province.
Speaking at the launch of the growth fund on Friday, 13 February 2009, MEC
Padayachee said the fund will enhance the economic growth and accelerate socio-
economic development within the province.
âThe Mpumalanga Growth Fund through its focus on building a quality
specialised project finance portfolio will enhance the socio-economic
development in the provinceâ, said Padayachee.
He said the fund indicates governmentâs commitment to support projects that
are financially viable and would have substantial impact on the economy.
âThe Mpumalanga Growth fund is one of other many positive things that are
happening in the province, and thus will motivate all of us to dare to dream of
a better future for the province,â said Padayachee.
The fund is a provincial government initiative aimed at facilitating private
sector involvement in addressing infrastructure backlogs in the province of
Mpumalanga.
âThe projects that the fund will focus on will be bulk water and sanitation
infrastructure; agro-processing industries, tourism related bulk
infrastructure; bio-fuel; transportation logistics and other manufacturing
activities,â said Padayachee.
The fund will assist small businesses to get involved in projects which have
a high impact on sustainable growth and job creation.
A consortium comprising Vunani Capital (PTY) LTD, a subsidy of the JSE
Listed black financial service group Vunani Limited and Vutsela Investment
(PTY) LTD, an Mpumalanga company has been selected as the preferred fund
service provider. The government has already set aside R200 million as seed
capital for the fund.
For more information contact:
Thomas Msiza
Tel: 013 766 4136
Cell: 079 500 0137
Issued by: Department of Economic Development and Planning, Mpumalanga
Provincial Government
13 February 2009
