ECDC receives R120m cash injection for job creation, SMME support

In a bid to create the much-needed jobs and support small businesses, the provincial government has allocated more than R120m to the Eastern Cape Development Cooperation (ECDC) when the new financial year kicks off in April. A further budget allocation of R352.7m will be injected towards the development corporation within the next three years. This was revealed by provincial finance MECMlungisi Mvokowhile delivering this year’s budget speech at the Bhisho legislature’s Raymond Mhlaba chamber on Friday.

Mvoko said the budget allocation is to support enterprise development, for market access, mentorship and procurement opportunities for small businesses and cooperatives. As part of this, the Eastern Cape Film Investment Fund, which has supported 39 productions, attracting R553.4m in production value from the R48.3m in provincial incentives. Through this incentive, more than 73 SMMEs were supported, and more than 9,400 temporary jobs were created, Mvoko said.

“To sustain this momentum, R10.5m over the next three years will be made available to support audiovisual production, R17m in 2026/27 is allocated for telenovela production through Eastern Cape Provincial Arts and Culture Council (ECPACC), and R21m in the upcoming financial year, through the ECDC, will support film development,” he said. A further R50m budget allocation towards the province’s Economic Development Fund is expected to support strategic economic projects, including industry value chains and access to funding for small businesses. Mvoko said in advancing these priorities, provincial departments and their respective public entities will play a critical role in strengthening planning, project preparation, and implementation capacity.

[paywall]

He further revealed that the department of sport, recreation, arts and culture, through ECPACC, will develop a structured partnership strategy with ECDC, Eastern Cape Parks & Tourism Agency, and municipalities to unlock opportunities in tourism events, the film sector, and the broader creative economy. Click here to join the Daily Dispatch’s WhatsApp channel and get the latest news delivered straight to your phone

[/paywall]