Investment and growth in the aquaculture sector will be stimulated with the launch of the Aquaculture Development and Enhancement Programme (ADEP). The programme was launched by the Minister of Trade and Industry, Dr Rob Davies in Cape Town.
Objectives
The objective of the incentive is to stimulate investment by commercially viable enterprises in the aquaculture sector. The secondary objectives are to:
Create and/or sustain jobs;
Broaden participation;
Increase production; and
Geographical spread.
Aim
The incentive is designed to stimulate investment in the aquaculture sector.
Programme Description
The programme involves a reimbursable cost sharing incentive of up to R20million for new, upgrading or expansion projects.
Revised guidelines
The purpose of the revised guidelines is to ensure that small, black entrepreneurs benefit from the programme, fostering broader participation and ensuring transformation in the sector. 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,
Beneficiaries
Primary, secondary and ancillary aquaculture operations under the following Standard Industrial Classification (SIC) Codes:
SIC 132: Fish hatcheries and fish farms; and
SIC 301 and 3012: Production, processing and preserving of aquaculture fish
BENEFITS
Reimbursable cost-sharing Incentive Scheme of up to a max of R20 million for qualifying costs:
- Machinery and equipment;
- Bulk infrastructure; ( in water & electricity infrastructure);
- Owned Land (only applicable to small black enterprises);
- Buildings (Ponds, cages, tanks, etc);
- Leasehold improvements, capitalised in the balance sheet (lease agreement at least 10 years);
- Rental Costs (only for small black enterprises) capped at R20 000 p. m, claimable at stage 2 only;
- Aquaculture feed, up to a max. of 10% of total costs (capped at 20% for small black enterprises);
- Competitiveness improvement activities (e.g. skills development) up to R500 000;
- Commercial vehicles and work boats (owned/ capitalised financial lease), not to exceed 50% of total qualifying costs.
- EIA, Permits authorization and costs (only for small black enterprises);
- Mentorship up to R200/hr, 8hr/day capped at R200 000/ approved project
Should you be interested in applying for the business grant, Dream Team Capital can assist you. Contact us today for professional assistance in streamlining your application for the Aquaculture Development and Enhancement Programme.
