Latest news with #NationalEmpowermentFund
Zawya
3 days ago
- Business
- Zawya
South Africa: Govt pays $335,634 from spaza shop fund
Government has so far disbursed R6m out of R500m in funding through the Spaza Shop Support Fund (SSSF) to eligible spaza shops and other food-handling outlets. The fund, aimed at increasing the participation of South African-owned spaza shops in the townships and rural areas retail trade sector, was launched last month. 'This is moving in a slow pace due to all the parties that are involved in coordinating the work, which includes inspections, verification of citizenship as well as site and health inspections. 'The fund will assist shop owners that met the deadline for the registration of an operating permit,' Minister of Small Business Development Stella Tembisa Ndabeni said during a media briefing in Pretoria on Thursday, 29 May. It offers funding of up to R300,000 per shop through a combination of grants and low-interest loans. In addition, it allocates funding specifically for initial stock purchases, infrastructure improvements, business development tools, and Point of Sale (POS) system adoption. The fund is being administered by the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (Sefda). 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. Inaugural Global SME Ministerial Meeting Marking the countdown to the first-ever Global Small and Medium-sized Enterprises (SME) Ministerial Meeting to be hosted by the South African government and the United Nations Small Business Agency in Johannesburg, the Minister shared the vision and expected outcomes of the Ministerial meeting. Taking place from 22-24 July 2025, the Ministerial Meeting will serve as a dedicated platform for ministers and officials responsible for Micro, Small and Medium-sized Enterprises (MSMEs) to share strategic insights, shape future policies, and foster global consensus on the small business agenda. Countries from around the world have confirmed their participation, including Brazil, Cambodia, Costa Rica, Egypt, Ethiopia, Kenya, India, Indonesia and Switzerland, among others. Nearly 50 countries are expected to be at the event. 'As a country, through the Department of Small Business Development, 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. 'In addition, we will galvanize a call-to-action to influence dialogues and decisions at the Group Twenty (G20) Summit under South Africa's leadership. We are unequivocal that the G20 needs a sharper MSME focus with its own dedicated Working Group, and we will use this Global Ministerial to bolster this position. 'We will also use this Global Ministerial to develop and activate strong partnerships across governments, multilateral institutions, and businesses. We do not want a talk- shop. We will emerge with practical initiatives that strengthen the global MSME support eco-system, as well as country-level partnerships that translate policy into action,' the Minister said. Startup20 Task Force The Department of Small Business Development will also be hosting the Startup20 Task Force planning sessions in the days preceding the Ministerial. This will provide the opportunity for Task Force leaders to share thinking with global MSME leaders beyond the G20. 'The challenges that small businesses face is vast and cannot be tackled by any one nation alone. Thus, I passionately urge governments, international agencies, development partners, and the private sector to join us in strengthening MSME ecosystems. 'Let us deepen our regional and global cooperation, share knowledge, and uplift MSMEs especially those led by women, youth, and persons with disabilities,' the Minister said. South Africa assumed the G20 Presidency from 1 December 2024 to 30 November 2025 under the theme: Solidarity, Equality and Sustainability.
The Citizen
3 days ago
- 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
IOL News
6 days ago
- Business
- IOL News
Joburg launches outreach drive to help spaza shops access R500 million fund
The City of Johannesburg, in partnership with the Department of Small Business Development, has launched a series of outreach sessions aimed at helping spaza shop owners The City of Johannesburg, in partnership with the Department of Small Business Development, has launched a series of outreach sessions aimed at helping spaza shop owners access the R500 million Spaza Shop Support Fund. Initially announced by President Cyril Ramaphosa in November 2024, the fund is administered by the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (SEDA) and aims to support township businesses, including spaza shops and convenience stores, through a mix of grants and interest-free loans. IOL previously reported that the Portfolio Committee on Small Business Development has expressed frustration over the limited progress in approving applications for the R500 million Spaza Shop Support Fund, with fewer than 400 out of more than 3,200 submissions being processed since the fund was introduced in April.
