I URGENTLY appeal to you for intervention by your committee in the following matter:
The Employment Creation Fund (ECF) - managed by the DTI - was create to finance innovative and relatively higher risk projects that are not likely to be funded through government’s normal budget processes, or where the commercial financial sector is unable or unwilling to provide financial services.
Are you aware that for OVER A YEAR National Treasury has refused to to replenish the fund??
Three audits have been conducted against the fund in the past year!! For what?? Delaying tactics??
The last one (by Deloitte) was completed back in March. Yet still no word on the funding.
Do YOU now why?
Now MANY of the +/- 60 projects, due to this delay, have collapsed or are severely compromised.
In fact, we learnt from the Deloitte auditors that one project owner has committed suicide when he could not pay his workers. He made the mistake of trusting the ANC government to provide the funding they contracted to provide. How foolish!
Under your watch, Sir, while you play petty politics with EFF real life job creating projects collapse.
But who cares? YOU?? Clearly not.