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  • 29 Mar
    2024

MEDIA BRIEFING ON THE FLOOD RELIEF FUND AND OPERATION VULA FUND



  • 29 Mar 2023

MEDIA BRIEFING ON THE FLOOD RELIEF FUND AND OPERATION VULA FUND

KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Mr Siboniso Duma, today visited businesses impacted by the April/May 2022 and February 2023 floods. In efforts to revive Small, Micro and Medium Enterprises (SMMEs) which suffered losses or were left inoperable by the flooding.

 

MEC Siboniso Duma also held a Media briefing regarding the KZN Economic Development, Tourism and Environmental Affairs (EDTEA)Flood Relief Business Support Fund, administered by Trade & Investment KwaZulu-Natal(TIKZN) and Provide comprehensive detail on the second phase of the Operation Vula Fund, a grant funding scheme initiated by EDTEA KZN with the aim of ensuring that adequate support is afforded towards the development and promotion of sustainable emerging enterprises, which include SMMEs and Cooperatives.

 “As the department responsible for the economic development of the province, we have established the KZN EDTEA Flood Relief Business Support Fund available to businesses impacted by the floods of April/May 2022 and February 2023.

We understand the difficulty of financial recovery from the disturbance to business operations. This fund forms part of the government’s ongoing contribution to assist businesses to bridge the gap to restore trade and resurrect jobs.

We will continue to work together with the business community and civil society groups to drive the economic recovery of the province. This fund was specifically established to assist with the reviving of business in order to accelerate social, economic, and spatial transformation in KZN. Priority for funding will be given to businesses that are based in the township, rural areas, and small towns impacted by the floods.” remarked MEC Siboniso Duma at the Media briefing held at uMlazi, 28 March 2023.