Thabethe to host co-operatives in the North-West
19 February 2009
The Deputy Minister of Trade and Industry (the dti), Elizabeth Thabethe,
will deliver a keynote address at the official launch of the Co-operatives
Incentive Scheme (CIS), to take place at the Wolmaransstad Town Hall in the
North-West on Friday, 20 February 2009, from 09h00.
The event will be attended by more than 100 multi-sectoral co-operatives
from seven provinces, most of whom have benefited from the scheme, as well as
representatives from the Makwassie Hills Local Municipality and Dr Kenneth
Kaunda District Municipality. The CIS was established by the dti in 2006, after
the dti had identified the promotion of co-operatives as one of its flagship
programmes, aimed at addressing the needs of the 'second economy'.
The CIS seeks to reinforce the initiatives of government towards the
development and promotion of co-operatives, as a viable form of enterprise in
South Africa. It is one of government's support measures towards realising the
2009 to 2019 objectives presented in the Government's Co-operatives Development
Strategy. The scheme targets registered co-operatives operating in the emerging
economy. It is offered as a 90/10 percent matching grant towards qualifying
expenditure incurred/to be incurred by the co-operative. The dti provides 90
percent value of the investment, while 10 percent should be derived from the
co-operative itself. A co-operative is eligible for a total grant not exceeding
R300 000.
According to the Chief Director of Co-operatives Development at the dti,
Jeffrey Ndumo, 93 co-operatives have been funded to the tune of R16,8 million
through the scheme, from its inception in 2006 to January 2009.
"The event in Wolmaransstad will afford Deputy Minister Thabethe an
opportunity to interact with members of co-operatives that the dti has
assisted, as well as those that are in need of financial assistance.
Co-operatives that have benefited from the scheme will share their experiences,
which will include challenges that they may have encountered along the way, as
well as progress that has been made after receipt of the funding. Other
co-operatives will be able to learn more about the scheme, its qualifying
criteria and how to access funding from the department for their enterprises,"
added Ndumo.
For more information, contact:
Sidwell Medupe
Tel: 012 394 1650
Cell: 073 522 6801
E-mail: MSMedupe@thedti.gov.za
Issued by: Department of Trade and Industry
19 February 2009
