CIPA approves P34m to fund projects

Wednesday, February 06, 2019

The Minister of Investment, Trade and Industry, Bogolo Kenewendo has told Parliament that the Companies and Intellectual Property Authority (CIPA) approved P34,754,189.14 to fund 41 projects.

Of the approved funds, P19,063,205 has been disbursed for implementation of the projects.

Just after the delivery of the Budget Speech on Monday, Tlokweng MP Kenneth Segokgo asked the minister the following day to abreast Parliament on how CIPA collects and uses its funds. Kenewendo said CIPA started revenue collection as a parastatal effective from April 1, 2015 and the total revenue collected for the period from April 2015 to March 31, 2018, amounted to P121,643,077.00.

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