2007 / 2008 Annual Report - Eastern Cape Development Corporation

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EASTERN CAPE DEVELOPMENT CORPORATION 2007/08CONSOLIDATED ANNUAL FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2008SUPPLEMENTARY INFORMATION2 Interest bearing borrowingsGroup Installment Date of final payment Interest rate(%)2008 2007R’000 R’000 R’000Development Bank of South AfricaLoan 14042/101Loan 13942/201Loan 13942/301Loan 13942/4013501612304522012201120162011101010103,6061,1634,03210,2834,3051,4884,48310,2291,193 19,084 20,505CorporationDevelopment Bank of South AfricaLoan 14042/101Loan 13942/201Loan 13942/301Loan 13942/4013501612304522012201120162011101010103,6061,1634,03210,2834,3051,4884,48310,2291,193 19,084 20,505108
EASTERN CAPE DEVELOPMENT CORPORATION 2007/083 Project grantsGroup Opening balance Transfer payments Interest Written off / transfers Payments Closing balanceAB350CoegaDBSA FundDEDEADRISAEU ProjectMagwa TeaPremier’s fundTreasury/SteinhofELIDZMthatha Taxi Rank31,3003,4652,99734,6565,3916,5614,80832269,597--12,000--47,500--2,50014,66730,300192,00016,000------------(5)(2,997)--(6,561)(2,812)----(21,430)(3,460)-(27,527)(260)-(4,496)(14,757)(53,972)(192,000)-21,870--54,6295,131--23245,925-16,000Total 2008 159,097 314,967 - (12,375) (317,902) 143,787Total 2007 63,211 369,115 437 3,383 (277,049) 159,097CorporationAB350CoegaDBSA FundDEDEADRISAEU ProjectMagwa TeaPremier’s fundTreasury/SteinhofELIDZMthatha Taxi Rank31,3003,4652,99728,4795,3916,5614,80832269,597--12,000--47,500--2,50014,66730,300192,00016,000------------(5)(2,997)--(6,561)(2,812)----(21,430)(3,460)-(27,527)(260)-(4,496)(14,757)(53,972)(192,000)-21,870--48,4525,131--23245,925-16,000Total 2008 152,920 314,967 - (12,375) (317,902) 137,610Total 2007 57,034 369,115 437 3,383 (277,049) 152,920AB350The Corporation has been appointed as an implementing agent to revive bus transportation in the rural areas aroundTranskei. The funds were advanced by the Department of Roads and Transport for this purpose.Coega Development Corporation (Proprietary) Limited (Coega)The fund represents amounts transferred to the Rapid Infrastructure Development Agency, a division of Coega.DBSA FundThe balance of the fund represents an amount of R3 million received from the Development Bank of Southern Africa tofinance the Imonti Kei SDI as well as the Greater Algoa Initiatives, less payments made in respect of the initiatives.Department of Economic Development and Environmental Affairs (DEDEA) and Provincial TreasuryThe fund represents grants from DEDEA and Provincial Treasury, to be administered on their behalf. It is utilised to assistlocal business service centres, manufacturing technology centres and local economic development units in the EasternCape. Transfers to beneficiaries are only made on specific instructions from the respective Departments.Digitisation and Remanufacturing Institute of South Africa (DRISA)DRISA is a section 21 company whose main purpose is Information Communication Technologies for Development,Education and Upliftment. The fund represents amounts that were transferred by DEDEA for this purpose.East London Industrial Development Zone (Proprietary) Limited (ELIDZ)Funds transferred to the Corporation by the Department of Economic Development and Environmental Affairs to forwardto ELIDZ. These payments are merely channeled through the Corporation to ELIDZ.109
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HUMAN RESOURCES MANAGEMENT2007/08 A
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PHOTOGRAPH: Alicedale, home to the
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INVESTMENT PROMOTION2007/08 ANNUAL
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PHOTOGRAPH: The Mercedes Benz South
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DEVELOPMENT SUPPORT SERVICES2007/08
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PHOTOGRAPH: The Automotive Supplier
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2007 / 2008 Annual Report - Eastern Cape Development Corporation

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