1 minute read
Development finance and SMME support
Exxaro and Bell are teaming up to help SMMEs.
Agreeing to work together: Mzila Mthenjane (Executive Head: Stakeholder Affairs, Exxaro) and Duncan Mashika (MD, Bell Equipment Sales South Africa).
Resources company Exxaro has signed an agreement with KwaZulu-Natal company Bell Equipment which gives access to contractors to mining equipment at affordable prices, as part of Exxaro’s enterprise and supplier development (ESD).
Advice and support to the new owners of equipment will also be available in terms of the partnership.
The Provincial Government of KwaZulu-Natal made available through the Operation Vula Fund the sum of R150-million in the 2020/21 financial year in support of enterprise development.
Similarly, the KZN Youth Empowerment Fund has provided R71-million to 55 youth-owned enterprises, including Uthandimvelo Trading, a supplier to the Tongaat Hullet Mill. A R1.45-million grant assisted in the creation of 10 permanent jobs and 25 temporary jobs.
Funding from the National Department of Trade, Industry and
Competition’s (dtic) Black Industrialist Programme and from the
Industrial Development Corporation (IDC) secured 70% of Newcastlebased Boschpick Engineering for entrepreneurs Bongani Khumalo and Phillip Majali and their company Lipsobex. The IDC provides finance across a range of sectors from agriculture to tourism.
The Small Enterprise Development Agency (Seda) is active in supporting entrepreneurs. Seda gives non-financial support through training, assistance with filling in forms, marketing and creating business plans.
In KwaZulu-Natal, Seda runs 12 Incubators which either help new businesses get started or with the rehabilitation of existing enterprises. Three models are used: Technology Demonstration Centres (demonstration and training); Technology Incubators (where the focus is rehabilitation); Hybrid Centres, which combine elements of the other two models. The KwaZulu-Natal incubators include ICT and construction (three centres each), furniture and hi-tech (two each) and chemicals, and essential oils. ■
SECTOR INSIGHT Provincial government funds are available for entrepreneurs.
ONLINE RESOURCES
National Department of Small Business Development: www.dsbd.gov.za SA SME Fund: www.sasmefund.co.za Small Enterprise Development Agency: www.seda.co.za
INDEX
Citiq Prepaid ............................................................................................................................................................OBC
Durban Chamber of Commerce and Industry .......................................................................................... 2
