Category Archives: Press Release

MEDIA RELEASE

idc-logo

Eastern Cape youth entrepreneurs take up their share of the Industrial Development Corporation’s R4.5 billion in youth funding. The IDC is tapping into the economic potential of youth-owned businesses in the Eastern Cape.

Increasing the competitiveness of youth-owned enterprises is becoming a priority for the corporation and partly achieving this through its competitively priced Gro-E Youth Scheme, which has set aside R4.5 billion for youth funding.

The scheme offers competitive financing for youth-owned businesses at interest rates of up to prime minus 3%. Black-owned youth empowered enterprises such as Kenako Concrete, Goapele Property Company and Nodela Trading and Projects are just some of the companies that have partnered with the IDC and benefited from this scheme.

A minimum of R1 million, with a maximum of R50 million per project, can be approved through the Gro-E Youth Scheme and this reduced loan pricing will be available for a period of five years.

Heading the call of youth taking on entrepreneurship is Port Elizabeth based company NutriTech. Founded in 2011 by Jaco Serfontein, NutriTech manufactures sports nutrition products for professional athletes and anyone with an active lifestyle.

Their growing product range is testament to their manufacturing prowess and includes protein powder, breakfast cereal and food products as well as fat burners.

“The support of the IDC has helped us to not only grow our product offering and expand our manufacturing capacity – its allowed us to almost double our employee numbers and focus our attention on breaking into new global markets which are highly competitive in this industry,” says Jaco Serfontein, Managing Director of NutriTech.

With a strong automotive sector and a highly competitive environment for advanced manufacturing in the Eastern Cape, the IDC through the regional office, is injecting millions into growing young entrepreneurs.

“We are committed to supporting entrepreneurs, particularly the youth, who want to contribute to the development of key sectors in the economy and create much needed jobs, especially for other young people,” Kingsley Dell-Robertson, the IDC’s regional manager in the Eastern Cape.

Unlike other financial institutions, the IDC offers pre- and post-investment business support to ensure applicants are equipped to build sustainable businesses.

NutriTech used the funding it received from the IDC to optimise manufacturing processes and increase its working capital. The business support provided by the IDC also helped address some of the business challenges they faced and enabled them to put a training programme in place for youth in both the manufacturing and administrative fields of their industry.

 “The infrastructure in our two major cities, the three ports and large tracts of arable land in the province present great opportunities for youth-owned business in various sectors, including automotive, agro-processing, clothing and textiles and tourism. Our full potential has not yet been reached and we will continue to invest in sustainable youth-owned businesses across the province,” says Kingsley Dell-Robertson.

With offices spread across the Eastern Cape in key cities such as Port Elizabeth, Mthatha and East London, the IDC is reaching out to existing and potential youth clients.

Industrial Development Corporation

 

GQOM VS. TRAP 2.0

gQOM
IMAGE: Stilo Magolide flosses with fan

The best Youth station in the Bay, Madibaz Radio, held its 2nd annual Gqom vsTrap party at Gondwana Café. The event had the club packed to capacity with people –some lined up outside and braving the cold to have some fun. It was focused on two music genres: Gqom and Trap. These were set against each other, to see which one is most favoured amongst the youth in the bay.

Trap
IMAGE: Students and the time of their lives

There were local performances from Fabiano, Justin, Anonymous T, House Natives, Picaso and Illuminate Dj’s. This year’s party featured a special appearance of Stilo Magolide and Scoop Makhathini, who both had the crowd a maximum high. For pictures of the event, go to our Facebook page (Madibaz Radio) to catch up with what took place during the party.

 Gqom vs. Trap pictures

Contact:   Neo Maboe

Intern: Madibaz Radio & Student Governance and Development

Contact no: 041 504 2866

Issued by: Lebogang Sandla

Intern: Madibaz Radio & Student Governance and Development

                   Contact no: 041 504 2866

Madibaz Radio

Amarula Bay Fashion Sunday

The friendly city is abuzz with lifestyle and entertainment activities for vibrant personalities to indulge. Sundays, henceforth, will not be the same with the introduction of a fashion event which aims takes over the last Sunday of each month.

The Amarula Bay Fashion Sunday had its first installment on the 26th of March and is said to have been a major success, with an attendance of about 100 people. The show was launched by the team which executed Nelson Mandela Bay Fashion Week last year.

In a press release, the founder and Project Manager, Llewellyn Williams said that the event will alternate between Roof Garden Bar (33 Chapel) and an undisclosed location in the township.

Designers Mooi Mooi by Lauren Gravett, Kira Van Heerden, Thembani Selani, Phathiswa Madiki and Austin Lee wowed the crowd dressed to the theme: Dress to Impress with their vibrant tailor-made outfits at Roof Garden Bar in Chapel Street.

NMBFW organiser, Siphosethu Martins said that ‘the Show went according to our plan, we didn’t experience any glitches in terms of models, designers and production guys. Out of the few models we were interacting with, some of them say they have never worked with a team that is as united as we are, where everyone does their part.”

The full NMBFW team consisted of:

Llewellyn Williams – Founder, Project manager

Siphosethu Martins – Chief Financial

Njabulo Ntombela – Chief Operations

Nduduzo Mjaja – Chief Risk

Toronto Malawu – Head of Media and content curator

Kagiso Gqadu (Kiso Metsi) – Official NMBFW photographer and photography/art director

Sanelisiwe Mdashe – Demand creation manager

Lwethu Tenge – Head of model management and training

Lihle Mtya – Model Trainer

Yonella Nobaza – volunteer

Headline Sponsor: Amarula

Makeup artist and make up sponsor: Woolworths SA (Walmer Park)

Sponsor: Score Energy Drink

The next Amarula Bay Fashion Sunday is confirmed for 23 April 2017 from 2pm at Roof Garden Bar

Amarula Bay Fashion Sunday