New loan window for competitive factories not enough
THE opening of a new window for working capital loans under the Department of Trade and Industry’s Manufacturing Competitiveness Enhancement Programme (MCEP) is not enough to allay the stress in the manufacturing sector.The Manufacturing Circle, an industry body, said on Thursday that more was needed to balance the objectives of job creation, competitiveness and transformation in the sector.The department suspended the programme in 2015 because it was "overcommitted"."The issue is … about planning for a new intervention or a new project, and then not being able to implement this," Philippa Rodseth, executive director of the Manufacturing Circle, said.This included not knowing when a grant would take place after expenses had been incurred by firms."This …. impacts on cash flows and requires juggling to find alternative sources to fund the interim shortfall that was not originally planned," she said.The industry body also said that nothing had been communicated by the department about...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.