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Statement on the Cabinet meeting held on 10 February 2010


12 February 2010

Cabinet held its ordinary meeting in Cape Town on 10 February 2010.

Cabinet approved in principle that government acquires an equity share of between 55% and 60% in Sunspace in order to retain South Africa’s national space capabilities. Sunspace is a private company that was set up as a spin-off of the satellite development research programme at the University of Stellenbosch. The company has undertaken a number of space programmes including the design, development and manufacturing of the SumbandilaSat that was launched into space recently. The Ministers of Finance, Trade and Industry and Science and Technology will finalise the most prudent funding model for the acquisition of the equity deal.

The 2010/11 – 2012/13 Industrial Policy Action Plan (IPAP) for the period 2010 to 2013 was approved for implementation. The new IPAP expands the first plan with more focus on scaling up the industrial policy interventions to alter the structure of the economy that supports decent work and sustainable livelihood.The plan will be reviewed annually to ensure that its objectives are met. Progress reports on the implementation of IPAP will be submitted to Cabinet every six months.

Cabinet approved the extension of the Interim Textile and Clothing Industry Development Programme (TCIDP) by one year, with redemption of Duty Credit Certificates limited to a list of agreed lines and inputs.

The Southern African Development Community (SADC) protocol on Science, Technology and Innovation was also approved and will be submitted to Parliament for ratification.

In addition, the 2010 Division of Revenue Bill was approved and will be tabled in parliament on 17 February 2010, by the Minister of Finance.

The following appointments were made:

Enquiries:
Themba Maseko
Contact: 083 645 0810

Issued by Government Communications (GCIS)               

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Last updated 25-May-2010
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