BuzzSouthAfrica learnt that Sefa distributed over R3.2 billion to over 200 000 small businesses in South Africa
This is according to the Small Business Development Minster, Lindiwe Zulu. Zulu claimed that the Small Enterprise Finance Agency (Sefa) has so far, distributed over R3.2 billion to over 200 000 small businesses across South Africa.
She related that Sefa approved R1.1 billion of loan facilities and disbursed R1.08 billion to 45 263 SMMEs (Small, Medium and Micro-sized Enterprises) and co-operatives through its various loan distribution channels in the 2051/16 financial year.
Zulu said at least 61 youth-owned enterprises have been funded to the tune of R17.9 million through the Cooperatives Incentive Scheme, while R35.9 million has gone to 117 women enterprises.
R45.2 million funded another 325 women-owned enterprises through the Black Business Support Development Programme.
In same financial year, 249 women across all nine provinces, received a month long, formal sefa-accredited training programme through the Bavumile Skills Development Programme designed to increase their expertise in production processes in the creative and craft markets, claimed the Minister.
With that, she disclosed that department embarked on a ‘Memorandum of Understanding’ with the Government of the Netherlands to promote cooperation in the area of co-operatives development.
According to her, one of the focus areas is to provide technical assistance that will help structure co-operative models in order to improve production efficiency and economic viability within co-operatives.
“What makes this cooperative concept unique is that it incorporates members across the value chain, which makes it an ideal tool to fast track growth and development. All processes are in place to ensure operationalization of this first new generation co-operative, which will be the torch bearer for the roll-out of more new generation co-operatives in early 2016.
We will be monitoring these initiatives through appropriate monitoring and evaluation mechanisms,” Zulu promised.