DTI Committee adopts DA’s proposal to fund entrepreneurs
13 May 2015
The Portfolio Committee on Trade and Industry (DTI) today adopted the DA’s proposal to establish a venture capital fund for start-up entrepreneurs within the National Empowerment Fund (NEF). We welcome this as a positive step in the right direction for both job creation and economic inclusion.
I will today write to the Minister of Trade and Industry, Rob Davies, to further insist he pursues the Committee’s recommendation on this matter. Minister Davies cannot in good conscience say he is committed to job creation and inclusive economic growth, while simultaneously rejecting this recommendation.
The DA has proposed the establishment of a national venture capital fund to support all entrepreneurs. That proposal is still firmly in place, and today’s announcement is a significant step in the right direction.
The Minister must also provide assurances that he will diligently apply his mind to this proposal and provide greater detail on how this will be funded and administered and outline what will happen in the event of noncompliance.