The Eastern Cape Development Corporation (ECDC) has injected R17.58 million into 57 cooperatives during the 2024/25 financial year. The investment shows the province’s continued commitment to strengthening grassroots enterprises and supporting sustainable local development.

Growth Backed by the Imvaba Cooperative Fund

The support was delivered through the Imvaba Cooperative Fund, which helps emerging cooperatives sharpen skills, improve productivity, and compete in the wider market. The fund provides both financial support and non-financial assistance, including training that helps groups build long-term stability.

In 2024/25, cooperatives received R17.58 million, with R16.9 million going to newly approved groups while just under R1 million supported those funded in the previous year. ECDC noted that many beneficiaries see this support as a pathway to independence, improved household income, and meaningful participation in the provincial economy.

A Wide Range of Sectors Benefit

The cooperatives operate across diverse industries such as:

• agriculture
• agroprocessing
• manufacturing
• retail
• services
• arts and crafts

Other groups are pushing into tourism, renewable energy, ICT, film, business process outsourcing, and the oceans economy. This variety demonstrates the province’s expanding entrepreneurial landscape and the broad reach of the funding programme.

ECDC’s Ongoing Commitment

ECDC emphasized that its mandate focuses on delivering REAL Finance, REAL Resources, and REAL Investment to support small enterprises and drive economic growth across the Eastern Cape. Further details form part of the corporation’s 2024/25 Annual Results.