[South Africa] Trade Minister approves the revised ADEP guidelines
The South Africa Minister for Trade and Industry, Dr Rob Davies has approved the revised guidelines of the Aquaculture Development and Enhancement Programme (ADEP), a sub-programme of the Enterprise Investment Programme (EIP); and the Implementation of the new programme guidelines which was effective 1st April 2019.
The purpose of the new guidelines is to ensure that small, black entrepreneurs benefit from the programme, thereby fostering broader participation and ensuring that transformation in the sector is achieved. For example:
ADEP maximum rental costs for small black enterprises have increased from R10 000 to R20 000 per month,
Feed costs capped at 20% (previously 10%), and
Mentorship cap has increased from R50 000 to R 200 000 per approval.
Furthermore, the revised guidelines will assist the sector to grow by stimulating investments, increasing job creation, ensuring food security and improving the competitiveness of the sector.
ADEP offers a reimbursable grant of up to a maximum of twenty million rand (R20 million) to qualifying applicants for new, upgrading or expanding Projects.
The ADEP was formally launched by the Minister on 28 March 2013, and it was last amended in August 2016. The Programme has been actively investing in the sector, with a total of 89 projects being approved with an estimated investment amount of R2.197 billion, leading to 2 377 estimated jobs being created and sustained to date.
During the 2016-17 financial Year, the Department commissioned a rapid assessment of ADEP. The report was released in February 2018, and the recommendations have been central to consultative engagements with all relevant stakeholders, including the Department of Agriculture, Forestry and Fisheries (DAFF), leading to the approval of the revised ADEP guidelines by the Minister.