The Eastern Cape Development Corporation (ECDC) has, to date, through the Job Stimulus Fund approved R46.7-million in incentives for 64 companies, which were expected to create, save and retain 4 670 jobs.

More than R25-million had been approved for payment to 27 companies during the first two windows of application, while the balance of the funds were given the go-ahead in the third window, which opened in October last year.

Of the total approved amount, R12.9-million had been disbursed to 33 companies.

“The financier is pleased that greater emphasis is also being placed on attracting companies outside East London and Port Elizabeth. In the third window of applications, the ECDC has approved [funding for] companies from the former Transkei,” ECDC CEO Sitembele Mase noted.

The Jobs Stimulus fund was launched in October 2011 to drive job creation by incentivising businesses across targeted sectors. Qualifying businesses are paid R10 000 for each job created.

Applicants are measured according to the strategic impact of the jobs created, sector prioritisation, location and skills development.

The Discovery medical scheme’s call centre was one of the companies that benefited from the Jobs Stimulus Fund incentive, when it received R2.3-million to create 231 new jobs.

“Discovery realised the untapped market that exists in the Eastern Cape…. the high unemployment rate means that the centre has highly qualified graduates at its disposal,” Discovery service executive Hennie van Staden stated.

Based at the East London Industrial Development Zone, fish producer Oceanwise also took on an additional 37 new staff members after receiving R370 000 from the fund. New staff were trained in agricultural production, fish processing, hatchery, water quality, life support systems and feed store management.

“Although we had plans to gradually increase our staff, the Eastern Cape Jobs Stimulus Fund gave us the necessary push to fast-track this process,” Oceanwise director Liam Ryan noted.