The department of Cooperative Governance and Traditional Affairs (Cogta) together with First National Bank (FNB) will sign a Memorandum of Agreement (MoA) to nurture up and coming business persons in the Eastern Cape Province.
The MoA emanates from the Local Economic Development (LED) Partnership Summit hosted by Cogta in 2017 as an endeavour to grow the local economy. The departments of Economic Development, Environmental Affairs and Tourism (DEDEAT), Eastern Cape Development Cooperation (ECDC) and the Department of Trade and Industry (DTI) will assist to link the entrepreneurs to possible local and national markets which currently remains a challenge for them.
The MEC for Cogta Xolile Nqatha welcomed the initiative by FNB to build “a booming local economy that creates jobs.”
“We first need to capacitate entrepreneurs with management and technical skills to create for them to drive new and dynamic initiatives for employment creation. For this to succeed, we wish to encourage young business persons to come forward and be incubated and mentored by FNB, our partner in this regard.”
The MEC said the project will run over three (3) years and mobilise 800 entrepreneurs throughout the Province. “
The details of the signing ceremony are as follows:

Date: 26 July 2019
Venue: East London Golf Club
Time: 10h00

Members of the media are invited to kindly confirm attendance to Ms Thando Sonjica on 079 508 7571 9181 or an e-mail to

Issued by the Department of Co-operative Governance and Traditional Affairs Enquires: Mr Mamnkeli Ngam on 071 685 7981.