The guidelines are in effect from 1 April 2019
Trade Minister approves revised guidelines for Aquaculture Programme
Wednesday, May 15, 2019, 01:30 (GMT + 9)
South Africa's Trade and Industry Minister Rob Davies has approved the revised guidelines of the Aquaculture Development and Enhancement Programme (ADEP).
"The purpose of the new guidelines is to ensure that small black entrepreneurs benefit from the programme, thereby fostering broader participation and ensuring that transformation in the sector is achieved," said the Department of Trade and Industry (DTI) on Tuesday.
ADEP, whose objective is to stimulate investment by commercially viable enterprises in the aquaculture sector, is a sub-programme of the Enterprise Investment Programme (EIP).
Under the new guidelines, ADEP maximum rental costs for small black enterprises have increased from ZAR 10 000 to ZAR 20 000 (USD 699.5 to 1,399) per month, while feed costs have been capped at 20 per cent from a previously 10 per cent. Meanwhile the mentorship cap has increased from ZAR 50 000 to ZAR 200 000 (USD 3,497 to 13,990) per approval.
"Furthermore, the revised guidelines will assist the sector to grow by stimulating investments, increasing job creation, ensuring food security and improving the competitiveness of the sector."
Minister Davies launched the ADEP in 2013 and 89 projects have been approved with an estimated investment amount of ZAR 2.2 billion (USD 153.7 million), leading to about 2 377 jobs being created and sustained to date.
Source: SAnews.gov.za (Tshwane)