While this number may be close to double the official South African population, its CEO Tshokolo Petrus Nchocho said the number was initially close to 1 billion, before it refused some claims for failing to meet the funding criteria.
The Industrial Development Cooperation is processing over 100 million applications for funding from its Covid-19 relief fund. The number was initially close to 1 billion.The Industrial Development Cooperation says it is processing 106 million applications for funding from its special Covid-19 relief fund.
Nchocho was addressing members of parliament during a joint meeting on trade and industry on Wednesday afternoon. “In terms of the applications that are still outstanding ... we have in aggregate, under this emergency scheme, 160 million applications that are in assessment. They are being evaluated,” he said.
“Unfortunately at times when these programmes are being opened up, some of the applications are not relevant and they don’t meet the qualifications of the scheme. We did receive a long substantial list, I think running in excess of a billion."The IDC is one of the government entities providing funding to distressed businesses during the Covid-19 pandemic, which has forced a crippling lockdown.
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