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Economic Development
Economic Development Budget Review and Recommendations Report
24 Oct 2014
The Committee met to deliberate and adopt the Budgetary Review and Recommendations Report (the Report) for the Department of Economic Development. Members went through the Report, section by section, noting that the introduction set out the key economic achievements for 2013/14, the mandate of the Committee and key functions of ...
Economic Development
Industrial Development Corporation & Small Enterprise Finance Agency on their 2013/14 Annual Reports
21 Oct 2014
The Industrial Development Corporation (IDC) presented its 2013/14 Annual Report, setting out the highlights for this year but also being quite frank about areas where its performance had not been so good. The primary purpose of the IDC was to facilitate sustainable employment, but, by its own admission, it had ...
Economic Development
Department of Economic Development & Competition Commission on their 2013/14 Annual Report with Deputy Minister in attendance
16 Oct 2014
The Department of Economic Development (EDD) had delivered on the 206 business key performance indicators (KPIs). Of the 22 administrative targets, it underachieved on one. Planning and recruitment of staff had to improve. Governance was improving through risk management; internal audit; ICT governance; security management, and audit committee oversight support. ...
Economic Development
Audit outcomes of Economic Development Department and its entities: AGSA briefing; Department on its 2013/14 Annual Report, with Minister in attendance
14 Oct 2014
The Auditor-General of South Africa (AGSA) stated that the Economic Development portfolio had received an unqualified audit opinion. Stagnation in audit outcomes was related to compliance with legislation, and due process. The AG had advised that there had to be a stronger review of the actual achievement of targets. There ...
Economic Development
Progress in implementing the Social Accords: Deputy Minister & Department briefing
16 Sep 2014
The Deputy Minister of the Economic Development Department presented on the implementation and progress of the social accords. The Department had facilitated five major social accords in the past three years in the context of the National Economic Development and Labour Council (NEDLAC) that focused on skills, education, local procurement, ...
Economic Development
Finance and Fiscal Commission on Department's performance and projections; Office of the Auditor-General on its role and mandate
9 Sep 2014
The Finance and Fiscal Commission (FFC) said South Africa was still some way from restoring strong and sustainable economic growth rates, as required by the National Development Plan (NDP). The economy needed to grow by 5.4% per annum to achieve NDP targets and to eliminate poverty and reduce inequality by ...
Economic Development
Economic Development Department's Quarterly Performances for 2013/14
26 Aug 2014
The Economic Development Department (EDD) briefed the Committee on the performance and expenditure of the Department for the four quarters of the 2013/14 period.
Highlights for the first quarter included a report produced on employment, gross domestic product growth and investment in relation to the jobs drivers of the New ...
Economic Development
Economic Development Department on quarterly expenditure reports for 2013/14: postponement of meeting
19 Aug 2014
The Chairperson stressed the importance of quarterly reports, or reports in process, as far as legislation was concerned, because this was where the work done by the executive was reviewed. This process, in the case of this Department, was informed by the Budgetary Review and Recommendation Report (BRRR) cycle, which ...
Economic Development
Small Enterprise Finance Agency on its 2014 Strategic Plan
29 Jul 2014
The Portfolio Committees on Economic Development and Small Business Development met jointly, to hear a briefing by the Small Enterprise Finance Agency (SEFA) on its Strategic and Corporate Plan for 2014 to 2018. The Chairperson, in her opening remarks, stressed the importance of SEFA in funding and developing the Small, ...
Economic Development
Industrial Development Corporation on its 2014 Strategic Plans; Committee Report on Economic Development 2014 budget
10 Jul 2014
The Committee was briefed by the Industrial Development Corporation (IDC) on its strategic plan for the financial year 2014/15. The IDC occasionally partnered with the Landbank where some agro-processing business linkages could be found. For the first time in its history the IDC would have an indicator on funding to ...