NATIONAL ASSEMBLY
WRITTEN REPLY
PARLIAMENTARY QUESTION NO 2039
DATE OF PUBLICATION: 16 August 2013
Mr M Hlengwa (IFP) to ask the Minister of Economic Development:
(1) What (a) is the total number of youth-owned businesses that have
benefitted from the Industrial Development Corporation of South Africa
Ltd (IDC) in the past three years and (b) programmes have been
implemented to ensure that these businesses are sustainable;
(2) how many of these businesses (a) are repaying their loans as per
their agreement and (b) are defaulting in repaying their loans;
(3) what (a) is the total amount paid by the IDC in assisting these
youth-owned
businesses and (b)
amount has been repaid? NW2454E
REPLY
In the past, the Industrial Development Corporation did not keep separate
statistics of youth-owned businesses. However, with the allocation of R1
billion for the Gro-E Youth Scheme geared towards funding job creating
youth-owned businesses in April 2013, and the signing of the Youth
Employment Accord, the IDC will be keeping statistics and will report on
business sustainability going forward.