Latest news with #NEF
The Citizen
30-05-2025
- Business
- The Citizen
Government pays R6 Million from R500 million Spaza Shop Fund
Only a fraction of the fund has reached township and rural spaza shop traders as verification delays slow disbursements The department of small business development has so far disbursed R6 million from the R500 million Spaza Shop Support Fund (SSSF). This is aimed at supporting South African-owned spaza shops and food-handling outlets in townships and rural areas. Launched last month, the fund is designed to provide financial assistance of up to R300 000 per shop through a mix of grants and low-interest loans. However, according to small business development minister Stella Ndabeni, on Thursday, the implementation has been slower than expected. 'This is moving at a slow pace due to all the parties that are involved in coordinating the work, which includes inspections and verification of citizenship, as well as site and health inspections,' she said. Focus on compliance and sustainability To qualify for funding, shop owners had to register for an operating permit before the deadline. The money can be used for stock purchases, infrastructure improvements, business development tools and the adoption of point of sale (POS) systems. 'The fund will assist shop owners that met the deadline for the registration of an operating permit,' Ndabeni said. The initiative is administered by the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (SEFDA) and includes support to help businesses meet hygiene and regulatory standards. ALSO READ: Illegal spaza shops 'still proliferate' despite warnings Global SME Summit set for July The Minister also announced that South Africa will host the first-ever Global Small and Medium-sized Enterprises (SME) Ministerial Meeting in Johannesburg from 22 to 24 July 2025. The event, co-organised with the United Nations Small Business Agency, will see participation from nearly 50 countries, including Brazil, Kenya, India and Switzerland. 'We are steadfast in our commitment to create a more enabling legislative and policy environment that empowers small businesses to grow, scale up and compete on the global stage,' said Ndabeni. She said the meeting would help shape global small business policy and push for the formation of a dedicated MSME Working Group under the G20 during South Africa's presidency. 'We do not want a talk shop. We will emerge with practical initiatives that strengthen the global MSME support eco-system,' she added. NOW READ: Spaza shops ask for more than R32m worth of stock
The Independent
06-05-2025
- Business
- The Independent
Starmer warned benefit cuts could be ‘as toxic' as axing winter fuel allowance as 800,000 miss out
Sir Keir Starmer 's benefit cuts will strip 800,000 legitimate disability claimants of support, a think tank has warned. New analysis showing that the support is largely going to claimants it was intended for has called the justification for the prime minister 's benefit cuts into question. And, as Labour grapples with the fallout of its local election drubbing, blamed primarily on cuts to pensioners' winter fuel payments, economists have warned the disability cuts could prove 'just as toxic' politically. The PM's move to slash welfare spending by £5bn through cuts to personal independence payments (PIP) was based on claims the system is too lenient. In a policy paper explaining the cuts, the government cited a 34 per cent jump in the number of disabled working-age people in England and Wales claiming incapacity or disability benefits between 2020 and 2024. This was double the 17 per cent rise in the number of disabled working-age people overall over the same period, the government said. 'It is therefore clear that the structure of the benefits system is also a factor contributing to the increase in claims for incapacity and disability benefits,' it added. Sir Keir used the figures to claim the current welfare system is 'morally and economically indefensible'. But an analysis from think tank the New Economics Foundation (NEF), shared with The Independent, shows the rate of successful claims for PIP, the main disability benefit, had remained steady at 50 per cent since before the pandemic. Meanwhile, 46 per cent of disabled people claim PIP, compared with 40 per cent before the pandemic, which NEF said showed that the rise in claims is due to an increase in people applying for benefits they are already entitled to. 'This suggests that the disability benefits bill has risen due to two factors: a rise in the number of disabled people eligible for state support, and a rise in deprivation, meaning that disabled people previously not claiming support are now looking for additional financial help from the government,' the think tank added. Under the changes, someone someone who needs assistance washing below their waist, uses an aid to use the toilet or deal with incontinence, needs assistance dressing their lower body or needs an aid to to speak or hear would no longer be eligible for PIP. NEF senior economist Max Mosley said: 'Our analysis suggests that PIP is going to exactly the sort of people it is intended to support, but that higher rates of disability and financial hardship are driving more people to claim. 'The government's plans to restrict access to PIP will lead to hundreds of thousands of disabled people missing out on support they very much need. This could well prove to be as politically toxic for the government as cutting the winter fuel payment.' Sir Keir has already faced a fierce backlash over the planned cuts, with left-wingers vowing to vote against the changes when they are put before parliament. Research has shown that nearly 100 Labour MPs have a majority smaller than the number of disabled people who face losing their benefits in their constituencies, adding to the intensity of the rebellion. Outspoken Labour MP Rachael Maskell has said there is 'deep, deep concern' among colleagues in the Commons. Meanwhile, 16 major charities - including the Trussell Trust, Scope, and Mind - have penned a letter to the government warning that benefit cuts would have a 'catastrophic impact on disabled people up and down the country'.
CBC
17-04-2025
- Business
- CBC
Halifax Water plans major upgrades within Windsor Street exchange project
Halifax Water is planning multi-million dollar infrastructure upgrades as part of the Windsor Street exchange redevelopment, including the replacement of "high-risk" pieces vital to delivering water to the peninsula. Earlier this month, the utility asked the Nova Scotia Regulatory and Appeals Board (formerly the Utility and Review Board) to approve $69.2 million in construction and design costs for multiple infrastructure changes. In their application, Halifax Water said these upgrades are needed within the next few years, so it makes sense to complete the work while the area will already be under construction. They said integrating the work will save taxpayers money, and have less impact on the public. About $43 million in construction costs will be spent on local water, wastewater and stormwater upgrades to replace aging pipes that are nearing their end of life. Pipes will be better aligned with the new roadway layout, the application said, in some cases moving infrastructure under the street rather than needing easements to cross private land. About $13.7 million will be used to replace the North End Feeder (NEF) transmission main, which is a pre-stressed concrete cylinder pipe that supplies most of the water to the peninsula's north end. It was built in the mid-1970s and is entering its 48th year, with a lifespan of about 50 to 75 years. The application said this transmission main is considered "high risk" because it's not easily accessible as it's located in a deep tunnel below sea level. The pipe is under "significantly high pressures with unknown condition and would be catastrophic if it were to fail," Halifax Water said. A new transmission main will be installed at a shallower depth along a different alignment to the existing pipe, to handle expected increases in water demand and allow the system to operate even with one of the mains out of service. The remaining $12.2 million will go to a sewer separation project to support the planned housing growth in the Young Street area. A new stormwater pipe will go from the end of Kempt Road through the Windsor Street exchange to connect to an existing pipe on Bayne Street. Millions more dollars in upgrades will be needed for both the Young Street sewer separation and North End Feeder main outside of this project, but the utility said they will request approval for those funds at a future date. Halifax Water said most of the construction costs will be funded by debt, but the utility has also applied for federal funding under the Canada Housing Infrastructure Fund (CHIF). They are awaiting the result of that request. Municipal staff have said construction on the overall Windsor Street exchange redevelopment will start this year. Halifax is redesigning the important intersection to improve truck and car traffic through the area, and create a new multi-use path for cyclists and pedestrians. Some transit-only lanes will be created, but two-way bus lanes will come during the second phase of the project in a few years because the road must be widened. The entire $150-million project is being cost shared with the federal and provincial governments, Halifax Water and Port of Halifax. The Halifax municipality's share is about $53 million.
Zawya
11-04-2025
- Business
- Zawya
South Africa: Government officially launches $26mln Spaza Shop Support Fund
Government has officially opened applications for the highly anticipated R500m support fund aimed at increasing the participation of South African owned spaza shops in the townships and rural areas retail trade sector. Addressing the launch of the Spaza Shop Support Fund (SSSF), Minister of Trade, Industry and Competition, Parks Tau, said the fund will transform the spaza shop landscape by creating jobs, alleviating poverty, promoting economic inclusion and empowerment as well as stimulating local economic growth. The fund provides for funding of up to R300,000 per shop through a combination of grants and low-interest loans. It allocates funding specifically for initial stock purchases, infrastructure improvements, business development tools, and Point of Sale (POS) system adoption. Through the fund, shop owners will be provided with assistance in meeting hygiene and regulatory standards to ensure the provision of safe, high-quality products. 'We are committed to ensuring that every spaza shop that benefits from this fund also gains access to the necessary health and safety training and resources. This holistic approach will help create workplaces that are not only economically vibrant but also secure and sustainable for the future,' the Minister said on Tuesday in Soweto. He indicated that studies show that small businesses account for a significant portion of job creation in South Africa. 'By equipping spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation. This means more opportunities for local talent and a reduction in poverty levels, as spaza shops expand their roles as community hubs. 'Every spaza shop supported by this fund is an engine for local growth. When these businesses thrive, they create ripple effects that boost surrounding sectors—be it suppliers, service providers, or local artisans. 'This fund is a catalyst for economic dynamism, injecting energy and resources where they are most needed. It is an investment in our people, our neighbourhoods, and ultimately, the entire South African economy,' he explained. The fund will be jointly administered by the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (SEFDA). 'We want a South Africa where economic opportunities are available to all, where the informal becomes formal, and where the entrepreneurial spirit of our townships becomes a driving force for national transformation. 'With this fund, we are taking a concrete step to formalise and empower the informal sector. By supporting spaza shops, we are enabling entrepreneurs, often women and young people, to participate fully in the economic process. 'These small businesses generate employment, drive local commerce, and channel much-needed income into communities that have long been underserved,' Tau said. In order to access the funding, applicants need to apply to the NEF and SEDFA through the prescribed application process outlined on the relevant institution's website. The following website can be used to apply for funding:
Yahoo
03-04-2025
- Business
- Yahoo
True scale of welfare cuts ‘closer to £9bn', experts warn
Labour's recently announced cuts to welfare spending may be much more severe than the government is claiming, several experts have warned. The headline £4.8bn figure placed on the cuts conceal their 'true scale', new analysis argues, as ministers continue to rebut criticism of the measures. The reforms, which largely focused on health and disability benefits, were announced by work and pensions secretary Liz Kendall on 18 March. The following week, chancellor Rachel Reeves revealed the scale of these cuts to be £4.8bn at Labour's spring statement – as independently assessed by the Office for Budget Responsiblity (OBR). Announcing the plans, Ms Reeves said: 'The Labour Party is the party of work. We believe that if you can work, you should work. But if you can't work, you should be properly supported.' But a new report from the New Economics Foundation (NEF) has found that around £2bn in cuts has gone unstated due to how the OBR has costed the proposals. In its forecast, the spending watchdog takes £1.6bn away from the headline cuts figure to reflect Labour's decision not to continue Conservative proposals to reform the Work Capability Assessment (WCA). The proposals would have seen it made harder for people to qualify for certain health benefits under the WCA, but Labour instead has decided to scrap it altogether in 2028. Calling this a 'saving' is misleading, the NEF claims, as the change had never happened. The think tank's report says: 'Using this phantom policy to offset the scale and impact of actual cuts happening in the real world is akin to suggesting that you should feel better off because your boss had thought about cutting your wages but then decided against it. 'Rejecting this accounting trick allows us to gain a clearer picture of how ill and disabled people will be affected by the government's plans,' the NEF's report adds. Its analysis finds that the true scale of the cuts actually sits at £6.7bn, and the amount of people that will be placed into poverty could be 350,000 – around 100,000 higher than the government's own bulk of the government's savings are set to come from changes to the Personal Independence Payment (PIP) which will effectively make it harder to qualify for. Claimed by 3.6 million people, the payment is designed to help people with extra costs incurred by their disability, whether they are working or not. An analysis by Professor Ben Baumberg Geiger of King's College London has argued that the OBR's prediction of how people will respond to these changes only creates more misunderstanding around the scale of the reforms. The OBR says that while 1.5 million PIP claimants would stand to lose their entitlement to the benefit if Labour's changes were introduced today, the 'behavioural response' will reduce this to around 800,000 people. This is because, they predict, the greater incentive to score four points on the assessment will cause more people to demonstrate that they qualify and reapply if unsuccessful. The report adds that this is a 'highly uncertain judgement'. But factoring this uncertain forecast into the headline figure, Prof Baumberg argues, creates a lack of clarity and transparency around the figures. The welfare expert said: 'My guess is that the OBR's estimates of behavioural effects are too high, and as a result, that the cuts even after accounting for behavioural effects are bigger [than the headline figure]. 'But either way, at this stage where no-one really knows, drawing attention to this assumption is really crucial.' The headline figure could be as high as £9bn in cuts, Prof Baumberg adds, when also factoring in Scotland and Northern Ireland. The DWP has been approached for comment.
