Loading...
See More

R10bn jobs loan scheme unveiled

Feb 22 2011 17:15 Sapa

Related Articles

'Gauteng build plan to create mega jobs'

ANC job targets unrealistic: SAIRR

State undermines its own jobs pledge

Private sector proposals sought on jobs

Auto, mining, IT earmarked for jobs

KZN moots job creation projects

 
Johannesburg - The Industrial Development Corporation has set up a R10bn loan scheme to help companies that can create new jobs, CEO Geoffrey Qhena said on Tuesday.

The IDC "has launched a R10bn scheme, to run over five years, aimed at facilitating job creation and growing the economy", he said.

The funding would be lent to companies at an interest rate of prime less 3%.

"This will be across all IDC mandated sectors to businesses which demonstrate economic merit and efficiency in new job creation."

The IDC would consider applications for loans of R1m up to R1bn.

Projects with a "high development impact" - including job creation, rural development, broad-based black economic empowerment, and small and medium enterprises - would get a reduction of up to 1% on the IDC's loan facility.

"It is still important that businesses have prospects of acceptable profitability to service their financial obligations," said Qhena.

The IDC has also established a R750m fund to help businesses affected by the recent floods and drought.
   
idc  |  sa economy  |  job creation

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
8 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

The Fast and Furious R40 million

With the Fast and the Furious 7 hitting South African cinema’s this April, all eyes are on the cars and we’re in for a treat!

 
 

Luxury living

This is the most expensive burger in the world!
Exclusive food items that WILL break the bank
Top 10 most expensive homes in the world
You can permanently live on a ship and sail the world!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How will you manage Vodacom’s price hike for contracts?

Previous results · Suggest a vote

Loading...