Page 10 - Nexia SAB&T Business in South Africa Guide 2024

INCENTIVES AND GRANTS

The Department of Trade and Industry (DTI)
The DTI provides financial support to qualifying companies in various sectors
of the economy. Financial support is offered for various economic activities,
including manufacturing, business competitiveness, export development and
market access, as well as foreign direct investment (FDI). DTI Incentive Schemes
include:
The National Youth Development Agency (NYDA)
SA has a large population of youth (about 34% of the total population is
aged between 14-35 years). The NYDA was established to address youth
development issues, and plays an important role in ensuring that all major
stakeholder’s, including government, the private sector and civil society, prioritise
youth development and contribute towards identifying and implementing
lasting solutions, which address youth development challenges. The NYDA
offers grant finance in the form of micro-finance grants (to encourage youth
entrepreneurship) and co-operative grants (to stimulate greater participation of
youth in the co-operatives sector).

The Small Enterprise Development Agency (SEDA)
SEDA was formed to implement government’s small business strategy by
focusing on developing, supporting and promoting small enterprises in order
to ensure their growth and sustainability. SEDA works together with various
role players, including global partners, who make international best practices
available to local entrepreneurs.
12I Tax Allowance Incentive (12I TAI)
Offers support for both capital investment and training for new industrial projects
that utilise only new and unused manufacturing assets, as well as expansions or
upgrades of existing industrial projects.

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