Organisation : Department of Trade & Industry
Facility Name : Agro Processing Support Scheme
Country : South Africa
Website : http://www.thedtic.gov.za/financial-and-non-financial-support/incentives/agro-processing-support-scheme/
|Want to comment on this post?
Go to bottom of this page.
What is THEDTIC Agro Processing Support Scheme?
The THEDTIC Agro-Processing Support Scheme (APSS) aims to stimulate investment by the South African agro-processing / beneficiation (agri-business) enterprises. The investment should demonstrate that it will achieve some of the following: Increased capacity, employment creation, modernised machinery and equipment, competitiveness and productivity improvement and broadening participation.
Related / Similar Facility : THEDTIC 12I Tax Allowance Incentive
Benefits of Agro Processing Support Scheme
** The scheme offers a 20% to a 30% cost-sharing grant to a maximum of R20 million over a two-year investment period, with a last claim to be submitted within six months after the final approved milestone.
** the dtic may consider an additional 10% grant for projects that meet all economic benefit criteria such as employment, transformation, geographic spread and local procurement.
** The maximum approved grant may be utilised on a combination of investment costs provided the applicant illustrates a sound business case for the proposed investment activities.
Eligibility Criteria of Agro Processing Support Scheme
** An applicant must submit a completed application form and business plan with detailed agro-processing/beneficiation activities, budget plans and projected income statement and balance sheet, for a period of at least three years for the project. The project/business must exhibit economic merit in terms of sustainability.
** The application must be submitted within the designated application window period, prior to start of processing/beneficiation or undertaking activities being applied for. Any assets bought and taken into commercial use or competitiveness improvements costs incurred before applying for the incentive will be considered as non-qualifying.
** For existing entities, submit latest financial statements, reviewed by an independent external auditor or accredited person, not older than 18 months.
** The approved entity may not reduce its employment levels from the average employment levels for a 12-month period prior to the date of application, and these employment levels should be maintained for the duration of the incentive period/ agreement.
** Minimum qualifying investment size, including competitiveness improvement cost, will be at least R1 million.
Conditions For Grant Disbursement
1. It is the responsibility of the entity to submit a completed, duly signed claim form and provide accurate information to the dti in order to enable prompt evaluation and processing of the investment grant claim. The submission of incomplete claim form/s (incl. supporting documents) or inaccurate information may result in the termination of the agreement or forfeiture of a specific claim.
2. Grant disbursement is subject to the satisfactory verification of qualifying cost items and may include a physical on-site inspection by the dti at every claim stage or whenever necessary.
3. The commencement date of claims must be within a period of six (6) months from the approval date.
4. Failure to submit a valid claim within six (6) months from the approval date will result in the termination of the APSS grant agreement.
5. Payments shall be made directly into the bank account of the approved entity.
6. Should there be material changes to the main activities of the entity under which the grant was approved; the grant approval will be terminated or cancelled.
7. The following supporting documents must be submitted together with a completed claim form. Latest financial statements not older than two (2) years from the applicant or authorised management accounts in the case of divisions, cost centres and branches;
Contact details to be used for Incentive Applications and Claims
Applications : apssapplications [at] thedtic.gov.za
Claims : apssclaims [at] thedtic.gov.za
Enquiries : APSScontact [at] thedtic.gov.za