Recent Projects
Project: Funding of capital budget – uMhlathuze Municipality
uMhlathuze is the third largest municipality in KwaZulu-Natal
with an annual operational budget of R772,1 million (2006/07)
and an estimated population of 289 189. Major towns in this
municipality are Richards Bay and Empangeni.
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Project: Funding new student accommodation – UKZN
The Public Investment Corporation (PIC) won an open tender to
provide a 1600-bed student accommodation facility to UKZN at its
Durban-Westville campus, on along-term lease basis, funded by
INCA as part of its property investment focus.
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Project: Infrastructure development – Municipality, Knysna
INCA provided a loan to fund sewer, electricity and water
infrastructure in this fast-growing municipality. The two
largest projects funded from the loan were the new 66kv
electricity intake substation in Eastford, and the upgrading of
the municipal water works. These projects will run over a number
of financial years, requiring further funding. The
municipality’s capital budget for the 2006/07 year totalled
R38,1 million.
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more
Project: Funding moveable assets – Metsimahole Local
Municipality
As part of INCA’s moveable asset funding facility, the
municipality purchased five Nissan Trucks (Tippers) for R4
million, and the balance(R1 million) will be utilised to build a
rates hall in Sondela and to erect ablution facilities for waste
removal personnel.
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Project: Municipal office accommodation – Moses Kotane
Municipality
INCA was involved in the initial phase of developing this
municipality and was the first financial institution to provide
infrastructure finance to it. Recently, the municipality took
over water services(billings and collections) from the Magalies
Water Board (MWB). Apart from this function, setting tariffs and
developing IT systems, the municipality was faced with providing
office accommodation for the staff adopted from MWB.
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Project: New municipal office building – Bela Bela Local
Municipality
The municipality’s offices burnt down two years ago due to an
electrical short circuit and the building was extensively
damaged. They are currently housed in temporary offices in town,
which are wholly inadequate. The estimated cost of a new
building is in the order of R15 million, which would in the main
be funded by INCA, as part of our portfolio of essential
property funding.
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Project: Part funding – Steve Tshwete capital programme
Steve Tshwete Municipality, previously known as Middelburg, is
situated on the banks of the Klein Olifants River on the Maputo
Corridor, Mpumalanga. Middelburg is renowned in the Southern
Hemisphere for the production of stainless steel.
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| INCA provides fixed and/or
floating rate finance for terms from 1 to 20 years. |
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