• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Khoza calls for visionary leadership

May 22 2012 12:38 Sapa

Company Data

NEDBANK GROUP LIMITED [JSE:NED]

Last traded 221.48
Change 3.28
% Change 0.02
Cumulative volume 226446
Market cap 113.83bn

Last Updated: 24/04/2014 at 04:20. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

JSE CEO wades into ANC-Khoza row

Khoza unperturbed by Manyi attack

Nedbank: SA leaders undermine law

Minister takes on Nedbank chair

Manyi slams Nedbank chair

ANC lashes Nedbank's Khoza

 

Johannesburg - An absence of visionary leadership is a major stumbling block for entrepreneurs in South Africa, Nedbank Group [JSE:NED] chairperson Reuel Khoza said on Tuesday.

"Leadership at all levels should demonstrate a commitment to creative freedom," he told delegates to a microfinance conference in Sandton.

Small, medium and micro enterprises (SMMES) should form the backbone of South Africa's economy.

"Big business and the state cannot provide enough jobs," he said.

Entrepreneurs in the informal sector experience police harassment. Within 18 months of existence, many SMMES "fall off a cliff into an abyss".

"Some struggle on as subsistence businesses. They do not grow beyond that."

A lack of finance is not necessarily the key obstacle. Finance is in fact more available in South Africa than in many other countries. The bigger problem is the lack of an enabling environment.

According to the World Bank, South Africa is one of the most difficult countries in which to do business.

In Singapore, the state requires three simple procedures which take three days and cost 0.01% of per capita income to start a business.

In South Africa, five complicated procedures are needed. These take 19 days and cost 0.3% of income, said Khoza.

Several leaders, including President Jacob Zuma, have spoken of the need to develop townships into thriving centres of business.

"This will remain a dream until it becomes easier to do business," Khoza warned.

 
reuel khoza  |  entrepreneurs  |  leaders  |  smmes
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
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

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