Western Cape Launches R5m Export Booster Fund
Western Cape Launches R5m Export Booster Fund. The Western Cape Department of Economic Development and Tourism has launched the Export Competitiveness Enhancement Programme (ECEP), which aims to support businesses that are export-ready or working towards meeting international market requirements.
“Expanding exports of products and services is a priority focus area of our provincial Growth for Jobs Strategy,” said Finance and Economic Opportunities MEC, Mireille Wenger. According to Wenger, research shows that if the provincial government can increase exports by 10%, it can generate an estimated additional R6 billion to the Western Cape gross domestic product (GDP) and create more jobs.
“Enabling access to global markets is key to achieving breakout economic growth for the Western Cape economy precisely because exports create opportunities for domestic producers to expand and diversify their customer bases to grow their businesses.” According to the MEC, the programme’s focus will be on developing and investing in the capacity of businesses to unlock export opportunities through a structured process, such as business turnaround or business improvement.
The project will also see an improvement to entrepreneurs’ skills and the business competitive position in relation to scale and efficiency. It will position the companies to expand into current markets, as well as new market opportunities. Interventions target specific businesses and provide support mechanisms to improve the capability, competitiveness, productivity, and export growth of these businesses.
The fund has several activities, including: Product reformulation and refinement; International packaging, labelling and printing requirements; International product certification and standards for international market access; Product registration with relevant international bodies in export markets; and International nutritional analysis and specialised shipping requirements.
“I encourage businesses in the Western Cape to apply for this exciting opportunity and look forward to seeing many more of our proudly Western Cape goods on shelves across the globe, and of course, to assisting many more businesses to expand, creating many more jobs for the residents of the Western Cape,” Wenger said.
