Government 'will remain committed to R100bn transformation fund'
Small business development minister Stella Ndabeni-Abrahams has encouraged women to participate in the public comment process for the government's R100bn transformation fund aimed at helping small businesses access funds and markets.
Speaking on Tuesday at the Women's Dialogue and Stakeholder Luncheon in Paris, Ndabeni-Abrahams called on women to share their opinions of the fund despite criticism in some quarters that the concept was flawed.
'There are people hell-bent on undermining this transformational agenda that we want to drive. There are people already who are committed that they will take that process to court,' said Ndabeni-Abrahams.
She said the government would stand by the fund despite opposition from some quarters, including major business organisations. 'Yes, we are a government that promotes nonracism, but we are a country with a particular history that is not going to be washed away. We are standing by our constitution in terms of addressing past imbalances,' said Ndabeni-Abrahams.
The Transformation Fund was proposed by the department of trade, industry & competition.
It aims to raise R20bn over the next five years and disburse R100bn, using a mix of contributions from enterprise and supplier development (ESD) obligations under B-BBEE codes of good practice and voluntary donations by big corporations.
After anger that the fund would impose new obligations for corporations, trade industry & competition minister Parks Tau allayed fears, saying it would not replace existing ESD programmes and contributions would be voluntary.
Ndabeni-Abrahams said the government was pushing its plan to allocate 40% of public procurement to women, however women needed strategic procurement opportunities.
'We do see that the government and the private sector still want to use women to only provide catering. We want to ensure that our role does not remain one that provides food and does the décor. We (women) are bigger than those services and that is why we are working with the department of trade, industry & competition to ensure access to funding for small business,' she said.
The Women's Dialogue and Stakeholder Luncheon is the first formal engagement of the France South African Investment Conference led by Deputy President Paul Mashatile.
Philisiwe Mthethwa, non-executive director at the Industrial Development Corporation, also speaking at the event, said gender equity was crucial and not only a women's issue but a societal imperative.
'Let us forge partnerships rooted not only in profits but in purpose. Let us walk out of this room with collaborations formed, capital committed, and courage renewed. We are not here because we were invited, we are ready to lead, ready to build, ready to change the story for every woman and every girl, every unseen hereon still waiting to be seen,' she said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
12 hours ago
- IOL News
A new era for online shopping as Amazon expands product range in South Africa
Amazon has expanded its product offerings in South Africa, introducing groceries, pet food, and health supplements to compete with established retailers Image: File Just more than a year after landing on South African shores with a . domain, Amazon has expended its product range to take on entrenched retailers who have had a virtual presence since the COVID-19 lockdown spurred online and app-based shopping. started as a bookseller in 1995 out of founder Jeff Bezos's garage and, at launch last May, was set to compete with Takealot, and Makro. And now it's playing in the food and over-the-counter medicinal product space. In what the company said on Wednesday is a 'major milestone in Amazon's growth in South Africa,' it stated that it had added groceries, pet food, vitamins, and supplements to its offerings. Adding these categories, it said, 'brings thousands of new non-perishable food items, pet food products, and health supplements to customers across the country'. Amazon's new selection includes both international favourites like Nestle, Red Bull, and Starbucks, and beloved local brands like Beacon, Simba, and Koo, catering to the diverse needs of South African households. The e-tailer, which is globally the fourth most valuable company with a market capitalisation of $2.18 trillion, operates local websites in various countries, including Australia, Canada, India, and Mexico. The 2024 World Wide Worx report, sponsored by Peach Payments, Mastercard and AskAfrika, shows that South Africa's online retail surged to R71bn in 2023, with projections that it will surpass R100bn by 2026. Robert Koen, Amazon MD for sub-Saharan Africa, said, 'since our launch, we've been listening closely to customer feedback, and groceries, pet supplies, and health supplements have consistently been among their top requests'. Early data indicates strong customer interest across all three categories. In groceries, coffee, tea, cereals, pasta, cooking oils, and canned goods are emerging as top sellers. The pet food selection, which includes options for dogs, cats, birds, fish, and small animals, has seen particular demand for premium pet nutrition brands and specialty formulations, said Amazon. Amazon added that the vitamins and supplements category has attracted health-conscious consumers with its comprehensive range of multivitamins, minerals, sports nutrition, and specialty supplements. On launch, the e-tailer said it sought to support local independent companies and, to this end, hosted its inaugural Seller Summit, bringing together over 300 local entrepreneurs at its Cape Town headquarters last month. More than 60% of global Amazon sales stemming from independent sellers. This was preceded, last September, by 'Shop Mzansi', a curated storefront on showcasing unique local products that reflect South Africa's rich and diverse cultures. 'Shop Mzansi' features thousands of products across different categories – including toys, home and kitchen appliances, outdoor and braai, baby, luggage, and beauty. 'Shop Mzansi showcases more than 160 brands from new, emerging, and established South African businesses, each with their own unique story,' Keon said at the time. He added that it will continue adding to the Shop Mzansi selection as it onboard more sellers and helps them list their products. More than 60% of sales in Amazon's stores globally are from independent sellers – most of which are small- and medium-sized businesses. IOL
TimesLIVE
19 hours ago
- TimesLIVE
Reduce food prices and add food wastage laws, urges anti-hunger movement
With more South African families being forced to cut nutritious food from their plates because of rising costs, advocacy movement United Against Hunger has initiated a nationwide petition campaign to exert pressure on government and retailers to reduce food prices on nutritious best buys. This comes as the latest Household Affordability Index report by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) showed a 3.1% year-on-year increase in core staples such as brown bread, cooking oil, maize meal, tea, potatoes, frozen chicken pieces, white sugar and sugar beans. United Against Hunger, which comprises the Nelson Mandela Children's Fund and the Healthy Living Alliance , is demanding through its petition that retailers drop food prices for '10 best buys' including rice, long-life milk, soya, eggs, tinned fish, dried beans, peanut butter, fortified maize meal, maas and lentils. 'These foods are full of protein and energy. That doesn't mean that other foods are not important. These foods could provide high nutritional value at the lowest cost, especially for families living below the poverty line.' The movement also called on government to implement legislation on food wastage in South Africa, saying companies 'can't just throw away fresh food when people go to bed hungry'. 'We demand more public engagement in the government's draft National Food Security and Nutrition Plan. Over the years, many organisations have built public pressure to increase and top up social grants. But even if we get the significant social grant increases we have been demanding, the cost of living will undermine these victories and keep people in poverty. The R370 [grant] is hardly enough to travel to a job interview or start a small business, let alone buy enough food for the month.' According to the Household Affordability Index, core foods are bought first to ensure families don't go hungry. 'When the prices of core foods increase, there is less money to secure other important nutritionally-rich foods, which are essential for health, wellbeing and strong immune systems. These include meat, eggs and dairy which are critical for protein, iron and calcium; vegetables and fruit, which are critical for vitamins, minerals and fibre; and maas, peanut butter and pilchards, which contain good fats, protein and calcium essential for children,' said Mervyn Abrahams of PMBEJD. The data shows that the core foods contribute 54% of the total cost of the household food basket. 'At an average cost of R2,955.34 in May, these foods are relatively very expensive in relation to the total money available in the household purse to secure food. These foods must be bought regardless of price escalations. 'The high cost of core staple foods results in a lot of proper nutritious food being removed off the family plates. The consequences of high costs on the core foods has a negative impact on overall household health and wellbeing, and child development,' said Abrahams. Overall the latest Household Affordability Index report, which tracks the prices of 44 basic foods from 47 supermarkets and 32 butcheries in Johannesburg, Durban, Cape Town,Pietermaritzburg, Mtubatuba in Northern KZN, and Springbok in the Northern Cape, shows that in May the average cost of the household food basket is R5,466.59 — a 2.6% increase from R5,330 a year ago. Foods that increased by more than 5% include potatoes, onions, tea, carrots, butternut, spinach and peanut butter, while items that increased by 2% or more include samp, frozen chicken portions, fish, wors, cabbage, bananas, apples, margarine and apricot jam. Abrahams said food is bought after transport and electricity have been paid for or money set aside. 'PMBEJD calculated that workers' families will underspend on food by a minimum of 45%. In this scenario there is no possibility of a worker being able to afford enough nutritious food for her family.'
IOL News
3 days ago
- IOL News
Ithuba Lottery confirms 12-month temporary extension of its operating licence
In a play on its "Phanda Phusha Play" slogan, Ithuba Lottery has introduced "No Pause, Just Play" as it confirmed a 12-month temporary extension of its operating licence Image: File In a play on its "Phanda Phusha Play" slogan, Ithuba Lottery has introduced "No Pause, Just Play" as it confirmed a 12-month temporary extension of its operating licence, while the incumbent licence holder, Sizekhaya, prepares to put systems in place. In a statement yesterday, Ithuba said that after careful consideration and prioritising the interests of South Africans, it had reached an agreement with the Minister of Trade, Industry and Competition and the National Lotteries Commission to operate the South African National Lottery, ensuring its ongoing contribution to good causes. "As a proudly 100% black-owned South African operator, Ithuba remains steadfast in its commitment to operating the National Lottery with integrity, transparency, and for the benefit of South Africans. Participants can rest assured that all games, draws, and prize payouts will continue as normal – with the same exciting jackpots and seamless service they are accustomed to," spokesperson Michelle van Trotsenburg said. This follows Trade, Industry and Competition Minister Parks Tau's decision to award the 12-month extension to Ithuba to ensure ticket sales continued from June 1. He expressed concern with the High Court judgment of May 21, 2025, which found that the Request for Proposal for a Temporary Licence was invalid, and he has appealed this judgment. However, in its judgment, the Court accepted that it is in the public interest for the National Lottery to continue operating to raise revenues for worthy causes, despite its dissatisfaction with the RFP process. Tau added that another court affirmed his power to appoint a Temporary Licensee in its judgment of May 30, 2025, stating: 'It would be surprising to the Court if the Minister were unable to appoint an operator on a temporary basis for a whole year. This is especially so because the Minister has more latitude in appointing a temporary operator, as opposed to a fully-licensed operator.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ "It is in the context of both the 21 and 30 May 2025 judgments that I received and accepted the advice from the Commission to appoint a temporary licence operator on an urgent basis. I am pleased that National Lottery operations will not be interrupted during the transition from the Third to the Fourth Licence operations and that worthy causes will continue to receive support," Tau said. The Minister's decision comes as Pretoria High Court Judge Omphemetse Mooki dismissed the National Lottery Commission's application to vary an order made by the court on May 21 to extend the temporary operating licence to 12 months, as the court was not persuaded that a case had been made for extending the period of suspension of invalidity. In arguments leading to the award of the licence to Sizekhaya, law firm Nortons Inc successfully represented the Wina Njalo Consortium in an urgent review of several decisions by Minister Tau regarding the awarding of the fourth national lottery licence. Judge Mooki noted that there was no substantive evidence that Ithuba Lottery would suffer a claimed loss of R51 million unless granted a temporary licence for a 12-month period. He further observed that Ithuba Lottery itself had not filed any affidavits in the matter, despite the application being premised on its position. BUSINESS REPORT Visit:
