UDM LAUNCH A BOLD MANIFESTO
Bantu Holomisa eyes deputy president’s job – and promises state handouts for startups
The UDM wants to create a government grant to fund startups of budding entrepreneurs.
Speaking on how the UDM proposed its “distinct national fund” would work, party president Bantu Holomisa – who has his eye on the the nation’s deputy president seat – said it would be in the form of a grant, instead of struggling entrepreneurs seeking loans from the Industrial Development Corporation (IDC).
Holomisa introduced the idea at the UDM manifesto launch at the Isaac Wolfson Stadium in Port Elizabeth on Saturday.
A large crowd of party members in white UDM T-shirts listened as he unpacked the party’s promises to the voters, as parties prepare for the May 8 elections.
“The national fund is needed as in yesterday because if you look at the situation now, the people who want to start businesses must go to the IDC and, when you’re there, they start asking you security questions, which means it’s run more like a commercial bank.
“With a national fund, you could get a grant to start your business,” Holomisa said.
The IDC, which is a wholly state-owned development institution, makes loans to and invests in private sector companies, which promotes industrialisation and development.
Holomisa said successful applicants would be trained so that when they started their business, they had the knowledge and skill to run successful companies.
“We want to build our own wealth creators, who will employ more people. Once entredeals preneurs have created their products, they need packaging, thus employ people to assemble boxes.
“One the product has been packaged, they need transport to deliver their goods and this creates a chain of jobs for people with those skills.
“We have to start from scratch because we cannot expect our people to go to IDC because IDC with millions and it’s borrowed whereas our funding would come from the state.
“According to the auditor general we spend about R40bn per annum on wasteful expenditure so imagine if you were to save some of that money and spend it on some of these businesses,” Holomisa said.
● On Saturday, Holomisa also expressed a desire to occupy the position of deputy president of the country. He said president Cyril Ramaphosa, Julius Malema and Mmusi Maimane could all compete for the number one position “but leave the east wing [office of the deputy president] of the Union Buildings for the UDM”.
He said coalitions had worked in the country and that in 1994 the UDM worked with the ANC in KwaZulu-Natal to put the ANC in power. “In Cape Town the UDM worked with the DA for Zille to become the mayor.”
Holomisa said coalitions need not be confined to political heads.
“Irrespective of who comes into power, the work must not stop. In South Africa coalitions work far better than in other countries,” he said.
With a national fund, you could get a grant to start your business