DTI Commends EU Contribution to Economy

Pretoria — The European Union programme, established to support South African SMMEs, has largely been hailed as a success by the Department of Trade and Industry (dti) as it wraps its operations.
The Sector Wide Enterprise, Employment and Equity Programme (SWEEEP), which helped with the implementation of South Africa's overall macroeconomic reform strategic objectives, is said to have distributed R477 million to over 40 projects since it began in 2003.

 

The programme aimed at promoting the growth of SMMEs and Black Economic Empowerment (BEE) businesses, with job creation being a fundamental objective.

Trade and Industry Deputy Minister Maria Ntuli and the head of the EU delegation to South Africa, Lodewijk Bri%t, yesterday celebrated the successes of SWEEEP at the conclusion of the programme.
SWEEEP was commended for raising the level of exports and promoting equitable global trade, while also contributing towards Africa's development and regional integration of the New Partnership for Africa's Development.Some of the achievements of the programme include supporting the fruit canning industry by the creation of partnerships between government and industry.

The initiative also supported government's Industrial Policy Action Plan, which includes the Centurion Aerospace Village to support South Africa's innovative manufacturing sector.
SWEEEP also funded the production of the movie, Blood Diamond, which resulted in a R 149.239 million capital inflow to the economy.
"The European Union has since donated an additional R1 billion to the South African government for the next three years for the new Employment Creation Programme, which seeks to support the Economic and Employment Cluster's Plan of action," said the dti.

Source: www.allafrica.com