The Eastern Cape Development Corporation (ECDC) will receive more than R120 million from the provincial government for job creation and expand support for small, medium and micro enterprises (SMMEs).
The funding will take effect in April at the start of the new financial year. Over the next three years, the provincial government plans to channel an additional R352.7 million to the development agency to sustain economic development programmes.
The announcement was made by Eastern Cape finance MEC Mlungisi Mvoko during the provincial budget speech at the Bhisho legislature.
Mvoko said the funding is intended to expand programmes that help emerging businesses grow.
“Through the ECDC, we will continue to support SMMEs with mentorship, procurement opportunities and improved access to markets,” he said.
Film industry driving economic activity
The provincial government also highlighted the role of the creative sector in stimulating economic activity and supporting small businesses.
Through the Eastern Cape Film Investment Fund, the province has supported 39 film and television productions. These projects generated about R553.4 million in production value from provincial incentives worth R48.3 million.
The programme has supported more than 73 SMMEs and created over 9,400 temporary jobs.
“To sustain this momentum, R10.5 million over the next three years will be made available to support audiovisual production,” he said.
“R17 million in 2026/27 is allocated for telenovela production through the Eastern Cape Provincial Arts and Culture Council, and R21 million in the upcoming financial year, through the ECDC, will support film development,” Mvoko said.
Partnerships to unlock tourism opportunities
Government has also allocated R50 million to the Economic Development Fund to support strategic economic projects, including strengthening industry value chains and improving access to funding for small businesses.
Mvoko said provincial departments and public entities will play an important role in strengthening planning, project preparation and implementation capacity.
The Department of Sport, Recreation, Arts and Culture will work with the ECDC, the Eastern Cape Parks & Tourism Agency and municipalities to expand opportunities in tourism events and the creative economy.
“Through structured partnerships we aim to unlock opportunities in tourism events, the film sector and the broader creative economy,” he said.
