Finance and Economic Opportunities
With reference to the Western Cape COVID-19 Business Relief Fund:
- How many businesses (i) applied for and (ii) received funding from the Province’s COVID-19 Business Relief Fund, (b) what was the nature of the funding provided to the various businesses and (c) what instrument has the Department developed to monitor the utilisation of these funds?
- How many businesses:
- Applied for
1 720 applications were received for the Covid-19 Business Relief Fund
- Received funding from the Province’s COVID-19 Business Relief Fund,
249 businesses were approved to receive funding from the Covid-19 Business Relief Fund. This figure differs from the number previously communicated. This is due to several businesses no longer meeting the qualifying criteria on verification.
(b) What was the nature of the funding provided to the various businesses?
Grant funding disbursed directly to businesses.
(c) What instrument has the Department developed to monitor the utilisation of these funds?
The Department conducted a thorough assessment on the applications received to ensure that the request for funds was in line with the mandate of the fund. This included conducting site visits at each business to ensure the existence of the business before any payments were made. The Department therefore focused on ensuring that the upfront evaluation and verification of the businesses was conducted.
The Department, in line with the approved monitoring framework relevant to the Covid-19 Business Relief Fund, will commence its monitoring activities during the second quarter of the current financial year. The mechanisms to be utilised for this purpose will include email and telephonic engagement as well as site visits to the recipients of the fund.
