Latest news with #MSMEsDay
Business Recorder
28-06-2025
- Business
- Business Recorder
HCSTSI team participates in ‘Financing Agreement Signing' ceremony
HYDERABAD: A high-level delegation of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) participated in the 'Financing Agreement Signing Ceremony' and the event organized in connection with the Global Micro, Small and Medium Enterprises Day (MSMEs Day). The delegation was led by Acting President Ahmed Idrees Chohan, who was invited as the Chief Guest at the prestigious event. The program was organized by the Sindh Agricultural and Forestry Workers Coordinating Organization (SAFWCO) under the Growth for Rural Advancement and Sustainable Progress (GRASP) project, aimed at supporting and financing MSMEs. On this occasion, selected SMEs were awarded grants of Rs. 10 million and Rs. 20 million. While addressing the ceremony, Ahmed Idrees Chohan highlighted that the Global MSMEs Day, observed annually on June 27 under the United Nations, serves as a reminder that small and medium enterprises are the backbone of any economy. In a developing country like Pakistan, MSMEs are key drivers of employment, innovation and economic sustainability. He appreciated the efforts of SAFWCO, GRASP, European Union (EU), International Trade Centre (ITC), Pakistan Poverty Alleviation Fund (PPAF) and other partner institutions for making financial support for SMEs a reality and celebrating the day with full spirit. Copyright Business Recorder, 2025
IOL News
26-06-2025
- Business
- IOL News
Kagiso Trust backs entrepreneurs as key to tackling unemployment
KAGISO Trust CEO Mankodi Moitse. Image: Supplied DEVELOPMENT agency Kagiso Trust says small businesses and entrepreneurs are central to addressing South Africa's high unemployment and poverty levels, particularly as questions arise over the accuracy of the country's official jobless statistics. Marking its 40th anniversary, Kagiso Trust is highlighting the growing role of the informal economy and the need for greater investment in small, medium and micro enterprises (SMMEs). This comes ahead of International Micro, Small and Medium-sized Enterprises (MSMEs) Day, observed globally on 27 June. 'By providing employment, entrepreneurs and the SMMEs they run are building the human capital that leads to economic growth,' said Kagiso Trust CEO Mankodi Moitse. While official data estimates that small businesses employ between 50% and 60% of the national workforce and contribute roughly 34% to GDP, the sector continues to face major hurdles. These include complex regulatory compliance, limited access to funding, and restricted market access. This year's MSMEs Day theme, 'Connecting the entrepreneurs', will be the focus of events hosted by the United Nations in New York. The UN said, 'Leaders from the business, policy and entrepreneurial sectors will gather to discuss strategies for connecting MSMEs with the resources they need, including finance, technology and market access.' 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 Next Stay Close ✕ Ad Loading Moitse said Kagiso Trust is actively addressing these needs through targeted initiatives in the agriculture and property sectors. 'We have chosen to work in the agriculture and property sectors because both are significant contributors to the economy and lack sufficient transformation,' she said. In agriculture, the Trust's Tyala Impact Fund uses a farmer aggregator model to create collectives of small-scale farmers. These groups share resources, receive technical support, and are linked to markets. The fund is also developing an agricultural academy to train a new generation of black agripreneurs and promote youth participation in the sector. In property, Kagiso Trust is working with the Trust for Urban Housing Finance (TUHF) and the University of Cape Town through the Property Entrepreneur Accelerator, PROPreneurX. 'Through specialised property management courses, we are empowering previously disadvantaged community-based organisations with vital skills in property ownership and management – creating pathways to sustainable asset development and wealth creation,' Moitse said. 'We also offer a credit facility to support entrepreneurs wanting to enter the residential rental property market.'
