Coega SEZ invests further R30m in SMME development
13 Jul 2017 - by Staff reporter
The Coega Development Corporation (CDC) has invested a further R30 million in emerging companies for the completion of various construction projects in the Coega Special Economic Zone (SEZ)
Nine small, medium and micro enterprises (SMMEs) in the Eastern Cape have been contracted to assist in completion of the following projects:
“As an empowerment-driven organisation, the CDC is conscious of the important role that the small business sector plays in unlocking economic growth in Nelson Mandela Bay and South Africa. Our dedicated SMME Unit was specifically established to support SMMEs, in line with our vision to be a catalyst for championing socio-economic development,” said Dr Ayanda Vilakazi, head of marketing and communications at the Coega Development Corporation.
Vilakazi pointed out that in the last financial year 2016/17, the CDC’s SMME procurement spend had been around 38% of the value of contracts managed by the company, amounting to R776 million.