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Manufacturing Competitiveness Enhancement Programme (MCEP)

Manufacturing Competitiveness Enhancement Programme (MCEP)

The Manufacturing Competitiveness Enhancement Programme (MCEP) is designed to promote competitiveness in manufacturing while ensuring job retention in the sector. MCEP consists of:

  • Industrial financing loan facilities (the Working Capital Component) managed by the IDC; and
  • Production incentive grants administered by the Department of Trade and Industry - for more information on these, please visit the Investment Incentives Website.

Working Capital Component

FUND SIZE: R1 BILLION (Off-balance sheet)

Objective

To assist manufacturing companies with working capital.

Qualifying Criteria

  • Only available for working capital requirements;
  • Not applicable to start-ups;
  • Only applicable to manufacturers under Standard Industrial Classification Code 3, but not auto manufacturers qualifying for AIS or clothing and textile manufacturers qualifying for CTCP;
  • Applicant may not contemplate workforce reductions during the term of the facility;
  • Applicant required to achieve BBBEE Level 4 within a reasonable period, (usually 18 months); and
  • MCEP funds are blended at a leverage level of at least 20% funding from IDC.

Instruments and Pricing

  • Working capital loans (including revolving credit facility);
  • Limited to R50 million per transaction or applicant? and may revolve depending on the applicant’s circumstances;
  • It is priced at 4% fixed;
  • Maximum repayment period is 48 months, including moratoria, etc;
  • First drawdown within 6 months from approval date; and
  • No fees apply.

Contacts for more information

Call Centre: 086 069 3888
Email: callcentre@idc.co.za

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