The Department of Trade and Industry (DTI) has suspended applications for the Manufacturing Competitiveness Enhancement Programme (MCEP).
The department's Malebo Mabitjie-Thompson said it received a large number of funding requests across the spectrum of manufacturing that overstated their investment commitments.
Many of the investment commitments were much more than what would eventually materialise.— Malebo Mabitjie-Thompson, Deputy Director-General at DTI
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R5 billion had originally been set aside for the programme, and this amount has now been fully committed by the DTI.
We saw a trend with most of the application that the initially stated investment or deliverables where overstated. At first, we took a decision to extend the submission period, but then discovered that we received enough to use the funds.— Malebo Mabitjie-Thompson, Deputy Director-General at DTI
A new application window would be opened in April next year pending the availability of funds from National Treasury.
This article first appeared on 702 : DTI suspends manufacturing incentives programme