The Local Economic Development Initiative (LEDI) is the result of a partnership established in 2009 between the Cacadu District Municipality (CDM) and the Development Bank of Southern Africa (DBSA).

 

Generally speaking, the purpose of Local Economic Development (LED) is to build the economic capacity of an area, to improve its economic future and the quality of life for all and to enhance competitiveness, sustainability and growth. It is a process by which public, business and nongovernmental sector partners work collectively to create better conditions for economic growth and employment generation.

 

LED encompasses a range of disciplines including physical planning, economics and marketing, and incorporates many local government and private sector functions including environmental planning, business development, infrastructure provision, real estate development and finance.  

 

LED can be addressed in a number of different manners, for instance by:  

 

-          Ensuring that the local investment climate is functional for local businesses;

-          Supporting small and medium sized enterprises;

-          Encouraging the formation of new enterprises;

-          Attracting external investment (nationally and internationally);

-          Investing in physical (hard) infrastructure;

-          Investing in soft infrastructure (educational and workforce development, institutional support systems and regulatory issues);

-          Supporting informal and newly emerging businesses; and

-          Targeting certain disadvantaged groups.

 

The partnership between CDM and DBSA involves the building of a strong strategic relationship between the municipality, local and regional stakeholders. Ultimately, the outcome is to catalyse an economic turn-around strategy focusing on improving development planning and economic regeneration.

 

 

The LEDI looks at funding innovative projects/programmes within the Cacadu District, spanning the broad categories of agriculture and tourism. These two industries currently are the dominant economic sectors and offer the most opportunities for development within the District. In addition to the provision of funding, the LEDI offers institutional support and development where necessary.

 

With a total of R7, 8 million allocated for funding, the LEDI currently overseas the development of projects in the areas of:

 

A number of projects require additional funding, including the Boschberg tourism small business hub, located in Somerset East, Chicory beneficiation and Aquaculture. Should you be in a position to provide funding or if you require additional information, kindly contact:

 

MICKEY MAMA - Director; Economic Development