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21 October 2004

Premier Dipuo Peters is expected to officiate at the launch of the Namaqualand Development Agency, at Concordia, an arid region with very harsh and dry climatic conditions. The region faces unique challenges, due to the downscaling of local mining activities in the region. Over the years, many people have since lost their jobs. The closure of the Okiep Copper Company worsened the situation. Due to lack of sufficient funds or security to secure loans, it’s been difficult for historically disadvantaged communities to access financial support to start sustainable businesses in the area.

As part of the government’s restructuring programme of ALEXKOR, which is aimed at ensuring that maximum returns for all stakeholders are achieved, the Strategic Equity Partner with black economic empowerment (BEE) characteristics will have to be introduced.

Due to this restructuring process it was therefore necessary to amend the obligation of ALEXKOR in terms of its contribution to the community.

This obligation will be modified with the requirement which stipulates that a 10% equity share from ALEXKOR be allocated to the community of the Namaqualand District Municipality.

This process is still progress and has not been finalised yet.

After several discussions, the Namaqua District Council established the Namaqualand Development Agency (NAMDA).

Amongst other benefits, this structure will provide limited tax accountabilities and responsibilities; consequently more funds will be available for distribution to the communities as part of the empowerment and upliftment initiatives.

NAMDA is aimed at developing the region economically and promoting sustainable capacity building amongst entrepreneurs.

The event will be held at the Concordia Community Hall at 18h00.

Enquiries: Zodwa Thebeyapelo
Premier’s Media Officer
Cell: 083 255 8849

Issued by: Northern Cape Provincial Government
21 October 2004