MCEP aims to strengthen the South African economy, by supporting the manufacturing sector through 3 different funding initiatives
Distressed Business Fund
MCEP Covid-19 Fund
MCEP provides funding for the following sectors:
MCEP key to reigniting local manufacturing
However, it is encouraging that SA still has a sizeable, diversified and generally technologically-advanced industrial base. The manufacturing sector contributed 13.2% to gross domestic product (GDP) and employed 1.21 million people (11.8% of total formal non-agricultural employment) in 2019. The sector also accounted for 56.4% of overall merchandise exports in 2019.
Although diversified, the industrial base is dominated by the sub-sectors manufacturing food and beverages; chemicals, rubber and plastics; base metals and fabricated metal products; machinery and equipment; as well as transport equipment (including motor vehicles, parts and accessories), as illustrated in the accompanying chart.