The Job Stimulus Fund is a fund allocated to incentive the retention of Jobs located in the Eastern Cape Province. The presentation talks to the requirements for the application of the Job Stimulus Fund,

1. JOB STIMULUS FUND
APPLICATION PROCESS

2. WHO CAN APPLY?

3. Who can apply?
• Distressed companies with employees at risk of losing jobs, distress
may be caused by covid-19 and lockdown
• Companies operating in the Eastern Cape Province
• Companies employing 5 and more employees on a permanent or
fixed term contract of not less than two years
• Companies must be compliant with SARS and Labour (UIF)

4. WHAT IS THE MAXIMUM FUNDING?

5. What is the maximum funding?
• R10 000 per job with a minimum of 5 jobs saved.
• Additional working capital for covid-19 affected companies which is
calculated against the financial year-end revenue prior lockdown
period and paid over a period of three months

6. HOW DOES ONE APPLY?

7. How does one apply?
• Applicants need to complete the Eastern Cape Job Stimulus Fund
application form available on the ECDC website and attach the
following documents:
1. Latest Financials and Management Accounts, signed off by a
registered accountant
2. Company registration documents
3. Latest Tax Clearance Certificate (TCC)
4. Proof of UIF registration
5. Current payroll or bank statement reflecting salaries
6. BBBEE certificate
7. Copy of generic contract
8. Confirmation of banking details
9. Detailed motivation stating reasons for distress and turnaround
strategy

8. CHALLENGES FACED

9. Challenges faced by ECDC on applications
received:
• Applicants not meeting the following minimum requirement:
1. UIF declarations not being done as per Labour Legislation
2. Employees not being paid according to the prescribed minimum
wage
3. Applicants paying employees cash, making it impossible to verify
salaries on companies bank statements
4. Applicants and Accountants not providing sufficient financial
information thus making it impossible to identify and motivate
distress to the approving committees
5. Applicants not responding to additional requests which affects
turnaround times

10. QUESTIONS???

11. END
THANK YOU