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Mabuyane expected to hand over millions of Rands in funding to Mthatha SMMEs

Mar 25, 2019
Mabuyane expected to hand over millions of Rands in funding to Mthatha SMMEs

Mthatha - As part of initiatives to grow the economy, Eastern Cape MEC for Finance, Economic Development, Environmental Affairs, Lubabalo Oscar Mabuyane, is expected to hand over millions of Rands in funding to about 18 Small Businesses in Mthatha on Tuesday morning.

Mabuyane, as the current African National Congress (ANC) Chairperson in the Eastern Cape, is tipped to become the next Premier of the Eastern Cape after the May 8 National and Provincial Elections.

"The millions of rands are given to businesses that successfully applied for business finance from the Department of Economic Development, Environment Affairs and Tourism’s Local and Regional Economic Development Grant (LRED) aimed at providing business finance to businesses to create jobs and grow the Eastern Cape economy," explained the Department's spokesperson, Mvusiwekhaya Sicwetsha.

"The 18 businesses to receive millions of rands of business finance from MEC Mabuyane are in the textile, construction, renewal energy, automotive sector, agro processing and tourism sectors operating in all the districts of the province."

Grant beneficiaries will share their success stories

Sicwetsha said that during the event, these business owners will share their success stories and how they plan to create jobs and grow the economy using the funds from the LRED Grant.

Mabuyane will also conduct a  site visit to one of the funded businesses - Ideal Vege.

Details about the funding handover are as follows:

Date: 26 March 2019 
Venue: 9 Transido flats, Progress Street, Vulindlela Industrial Park, Mthatha 
Time: 09:00

MAIN EVENT

Date: 26 March 2019 
Time: 10:00 
Venue: ECDC Offices, Mthatha.

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