• Inside Labour

    The 'casualisation' of the workforce is often a ploy to cut costs, says Terry Bell.

  • When drones go dancing

    Drone technology's future is about to come to life in Cape Town, says Arthur Goldstuck.

  • Testing times for Matona

    New Eskom CEO Tshediso Matona has his work out cut out for him, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

SMME financing bodies to merge

Oct 27 2011 11:03 Sapa

Related Articles

Massmart, SABS sign deal to aid SMEs

Sacci: Gordhan's budget must help SMEs

Success for SA designer

Google initiative to aid SMEs

New fund to aid small business

Entrepreneur's to-do list

 

Cape Town - The cabinet has approved the merger of several small, medium and micro enterprise (SMME) finance entities.

These are Khula, the SA Micro Enterprise Apex Fund and the Industrial Development Corporation's (IDC's) small business activities, government spokesperson Jimmy Manyi told a briefing on Thursday following cabinet's regular Wednesday meeting.

The merger is subject to approval of the business case by the National Treasury and the public service and administration department, he said.

In line with the new growth path, access to finance for small business is an enabler for creating and sustaining enterprise and jobs.

The current fragmented approach to delivery of finance to small business has resulted in higher overhead costs, limited reach and insufficient impact.

The merger would fall under the auspices of the IDC where it would be better resourced and capacitated.

It would also create the framework for improved support for SMMEs, Manyi said.

 
idc  |  smmes  |  business  |  sme
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
7 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...