{"id":3471,"date":"2022-03-14T11:51:21","date_gmt":"2022-03-14T11:51:21","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund"},"modified":"2022-03-14T20:20:34","modified_gmt":"2022-03-14T20:20:34","slug":"133-businesses-share-e79-million-from-reconstruction-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund","title":{"rendered":"133 BUSINESSES SHARE E79 MILLION FROM RECONSTRUCTION FUND"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Eswatini. <\/strong><\/span>The ministry of commerce industry has revealed that as at February 23, the reconstruction fund had approved E79 million for 133 businesses from 305 applications received amounting to E447 million.<\/p>\n<p>This is contained in the ministry\u2019s responses on the annual performance report and budget estimates debate by the portfolio committee.<br \/>\n\u201cThe ministry can report that the fund is operational and applications are processed. As at February 23, 305 application were received amounting to E447 202 413. A total of 133 were approved amount to E79 246 205. E22 917 376 was disbursed\u201d reads the response from the ministry.<\/p>\n<p>The amount approved is an increase by E39 million from that the fund had disbursed in December where the ministry reported that since the launch of the Reconstruction Fund on Independence Day nearly E40 Million had been disbursed.<\/p>\n<p>The ministry encouraged businesses that that were affected during the civil unrest to apply for the grants.<br \/>\nOn September 6 2021, the country\u2019s Independence Day commemoration, the king launched the Reconstruction Fund to compensate businesses and individuals who were affected by deadly protests in the country at the end of June.<\/p>\n<p>\u201cThe nation is reminded that businesses damaged during the civil unrest can receive partial compensation grants of up to 60 per cent from the Reconstruction Fund. These grants are not repaid.<\/p>\n<p>Businesses can claim for reconstruction or rehabilitation of premises; restoring or replacing of machinery and for loss of stock for small businesses (informal sector),\u201d announced the government at the time.<br \/>\nGovernment further announced that application forms are available on the Government website and can also be physically collected from Eswatini Bank, National disaster management agency and Small Enterprises Development Company (SEDCO) offices.<\/p>\n<p>RECONSTRUCTION FUND GUIDELINES<br \/>\nThe objective of the Reconstruction Fund is to provide partial financial assistance to the businesses that have been affected by the unrests in the Kingdom of Eswatini by providing:<\/p>\n<p>(a) Easily accessible grants to both the formal and informal sectors to cater for the reconstruction or rehabilitation of the business buildings or premises;<br \/>\n(b) Business grants for the purpose of restoring or replacement of machinery or equipment which is vital for business re-opening and recovery.<br \/>\n(c) Business grants for the sake of compensation of loss of stock for Micro and Small enterprises<br \/>\nThis Fund will compensate formal and informal Businesses. The compensation will be guided by whether the business is Eswatini Registered and is 100 per e cent owned by Emaswati, or whether it\u2019s Eswatini registered and is non Emaswati owned for the reconstruction or rehabilitation of business buildings or premises; restoring or replacing machinery or equipment<br \/>\nii. Whether the business falls under Micro and Small business enterprises category as per the MSME National Policy categorisation for the loss of stock compensation<br \/>\niii. Whether the informal business fall under the specific classes which will be compensated by a flat rate for the loss of stock. Such a list of classes will be provided in a schedule attached to these guidelines<\/p>\n<p>The following are the prequalification requirements for all applications:<br \/>\n1. PREQUALIFICATION REQUIREMENTS:<br \/>\n1.1 FORMAL ENTERPRISES<br \/>\n1.1.1 100 per cent Emaswati owned businesses<br \/>\nThe percentage compensation will be considered on case by case bases and the maximum compensation for 100 per cent Emaswati owned businesses will be up to 60 per cent.<\/p>\n<p>Eswatini Registered Business, 100 per cent owned by Eswatini citizens<br \/>\n\u2022 Business must be registered or have an operating permit<br \/>\n\u2022 Trading License<br \/>\n\u2022 Form J and Form C<br \/>\n\u2022 Certificate of Incorporation Memorandum and articles of association<br \/>\n\u2022 Copies of IDs for the Directors,<br \/>\n\u2022 Constitutions for Associations<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Assessment from professional loss assessors<br \/>\n\u2022 Quotations, bills of quantities<\/p>\n<p>1.1.2 Non Emaswati owned Businesses<br \/>\nThe percentage compensation will be considered on case by case bases and the maximum compensation for non Emaswati owned businesses will be up to 40 per cent .<br \/>\nEswatini Registered Business non Emaswati citizens owned<br \/>\n\u2022 Business must be registered or have an operating permit<br \/>\n\u2022 Trading License<br \/>\n\u2022 Form J and Form C<br \/>\n\u2022 Certificate of Incorporation Memorandum and articles of association<br \/>\n\u2022 Copies of IDs for the Directors,<\/p>\n<p>\u2022 Constitutions for Associations<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Assessment from professional loss assessors<br \/>\n\u2022 Quotations, bills of quantities<br \/>\n1.2 PREQUALIFICATIONS FOR INFORMAL BUSINESSES<br \/>\n1.2.1 100 per cent Emaswati owned businesses<\/p>\n<p>The compensation for informal Businesses for the Infrastructure, Machinery and Equipment will also be considered on case by case bases, the maximum compensation is up to 60%. Compensation on stock will be at a flat rate of up to E25, 000.00 (refer to schedule 1 on the categories).<br \/>\nEswatini Registered Business, 100% owned by Eswatini citizens<br \/>\n\u2022 Must have been in business when the unrests started<br \/>\n\u2022 Permit or any form of approval authorising and confirming operations<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Quotations<\/p>\n<p>1.2.2 Non Emaswati owned businesses<br \/>\nThe compensation for informal Businesses for the Infrastructure, Machinery and Equipment will also be considered on case by case bases, the maximum compensation is up to 40 per cent. Compensation on stock will be at a flat rate of up to E25, 000.00 (refer to schedule 1 on the categories).<br \/>\nEswatini Registered Business non Emaswati citizens owned<br \/>\n\u2022 Must have been in business when the unrests started<br \/>\n\u2022 Permit or any form of approval authorising and confirming operations<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Quotations<\/p>\n<p>2. REQUESTS FOR RE-IMBURSEMENTS<br \/>\nThe following documentation shall be required where requests for re-imbursement of reconstruction costs already incurred are made;<br \/>\n\u2022 Proof of Payment<br \/>\n\u2022 Quotations and Invoices<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Assessment from professional loss assessors<br \/>\n\u2022 Company registration documents (Form J and Form C)<br \/>\n\u2022 Certificate of Incorporation Memorandum and articles of association<br \/>\n\u2022 Trading Licence<br \/>\n\u2022 Copies of IDs for the Directors,<br \/>\n\u2022 Constitutions for Associations<br \/>\n\u2022 Police Report confirming that the business was impacted by the unrests and also stating the extent of loss incurred<br \/>\n\u2022 Assessment from professional loss assessors<br \/>\n\u2022 Quotations, bills of quantities<\/p>\n<p>N.B: The reimbursements will be considered on a case by case basis, the compensation shall be partial, and businesses compensated by Insurance shall not benefit from this fund<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/eswatini\">Eswatini<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Eswatini. The ministry of commerce industry has revealed that as at February 23, the reconstruction fund had approved E79 million for 133 businesses from 305 applications received amounting to E447 million. This is contained in the ministry\u2019s responses on the annual performance report and budget estimates debate by the portfolio committee. \u201cThe ministry [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":3470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,6,8,16],"tags":[234,248,249],"class_list":["post-3471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>133 BUSINESSES SHARE E79 MILLION FROM RECONSTRUCTION FUND - Eswatini<\/title>\n<meta name=\"description\" content=\"The ministry of commerce industry has revealed that as at February 23, the reconstruction fund had approved E79 million ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"133 BUSINESSES SHARE E79 MILLION FROM RECONSTRUCTION FUND\" \/>\n<meta property=\"og:description\" content=\"The ministry of commerce industry has revealed that as at February 23, the reconstruction fund had approved E79 million ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-14T11:51:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-14T20:20:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/03\/img-622fa37c9b540.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"133 BUSINESSES SHARE E79 MILLION FROM RECONSTRUCTION FUND\",\"datePublished\":\"2022-03-14T11:51:21+00:00\",\"dateModified\":\"2022-03-14T20:20:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\"},\"wordCount\":1043,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/03\/img-622fa37c9b540.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/133-businesses-share-e79-million-from-reconstruction-fund\",\"name\":\"133 BUSINESSES SHARE E79 MILLION FROM RECONSTRUCTION FUND - 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