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When it comes to funding, IDC keeps shifting goal posts - bemoans entrepreneur

4 December 2020 11:54 AM
Tags:
Electric car
IDC
funding
Green Scooter
mellowcabs

IDC head of Corporate Affairs Tshepo Ramodibe explains why the funding application for Green Scooters was rejected.

The Industrial Development Corporation (IDC) was caught up in a storm last week over its decision to fund a Western Cape-based company that provides a fleet of electric delivery vehicles over a Gauteng based company with the same idea.

There were allegations made against IDC saying it funded MellowVan because it is white-owned and rejected Green Scooters because it is black-owned.

IDC rejected the application for funding by Green Scooters saying it was not economically viable.

Clement Manyathela speaks at Green Scooters founder Fezile Dhlamini to find out what happened.

I am the first person in the country to put electric vehicles in the townships creating job opportunities for people.

Fezile Dhlamini, Founder & Managing Director - Green Scooter

We don't only build the vehicles, we also build software.

Fezile Dhlamini, Founder & Managing Director - Green Scooter

Dhlamini says he managed to get a meeting with the IDC to pitch his ideas and it did not go well.

In that meeting, I was told by Charles 'how can you expect us to give you funding for something that has never been done before? We can only fund you once you are able to sell 5000 vehicles.'

Fezile Dhlamini, Founder & Managing Director - Green Scooter

Throughout the entire journey, it was the IDC sending back and forth. What the IDC did to me, they kept shifting the goal post.

Fezile Dhlamini, Founder & Managing Director - Green Scooter

IDC head of Corporate Affairs Tshepo Ramodibe says they sign confidentiality agreements with all their clients and all businesses are different.

When providing funding, the IDC looks at direct job creation, entrepreneurial development and the local component.

Tshepo Ramodibe, Head of Corporate Affairs - IDC

We engaged Fezile on a number of occasions and we look at multiple ways to help him.

Tshepo Ramodibe, Head of Corporate Affairs - IDC

When Fezile came to us, his business proposal and funding application literally failed on multiple steps despite our efforts to help him.

Tshepo Ramodibe, Head of Corporate Affairs - IDC

Listen to the full interviews below...




4 December 2020 11:54 AM
Tags:
Electric car
IDC
funding
Green Scooter
mellowcabs

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