The Economic Development and Planning Cluster has proposed a Socio- Economic Relief Fund which will form part of the City’s Economic Recovery Plan to provide support to struggling businesses, stem job losses and fund projects aimed at assisting businesses to access opportunities. The Cluster has identified R10m in savings from events and programmes cancelled due to the Covid-19 pandemic to establish the relief fund in line with the Municipal Financial Management Act (MFMA).
The details of the proposal were tabled in a report to the Executive Committee (EXCO) on 4 August 2020 and was unanimously welcomed. The fund is specifically directed to assist and support small formal and informal businesses and is subject to Full Council approval at the end of August.
Once approved, information detailing the application process will be communicated through the various Municipal platforms.
Deputy City Manager, Economic Development and Planning, Philip Sithole explained that the fund would provide for a single payment to applicants that apply and meet various qualifying criteria.
Criteria requirements include, the business would need to be in existence for at least twelve months and hadn’t received any other relief from the Municipality, Provincial or National Government. They must also operate within eThekwini Municipality and must be registered with CIPC. Business owners must also provide proof of income loss due to the pandemic.
Issued by the eThekwini Municipality’s Communications Unit. For media enquiries contact the Municipality’s Spokesperson, Msawakhe Mayisela on 060 966 4220.