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The Star
6 days ago
- Business
- The Star
South Africa calls for greater support for small businesses amid rising protectionism
JOHANNESBURG, July 23 (Xinhua) -- South Africa hosted the inaugural Global Small and Medium Enterprises (SME) Ministerial Meeting at a time of mounting challenges for small businesses, marked by disrupted supply chains, shifting geopolitics, and rising protectionism, according to the country's business minister. "Global value chains are undergoing rapid changes, with rising trade protectionism posing a threat to markets for micro, small and medium enterprises (MSMEs), especially in developing and less developed countries," Minister of Small Business Development Stella Ndabeni said on Wednesday. Addressing the Global SME Ministerial Meeting in Johannesburg, Ndabeni noted that these challenges are having a direct impact on developing economies and emerging enterprises. Ndabeni said efforts are underway to enhance support for MSMEs in accessing markets and finance, and to position them as strategic actors in the global economy. "This is why we are advocating for the establishment of a dedicated G20 MSME and Startup Working Group, to be formally included in the G20 Declaration in November. Let this be one of the key legacies of our collective efforts," she said. Ndabeni said substantial work had been undertaken to support MSMEs in the lead-up to the meeting. She highlighted the vital role MSMEs play in driving economic growth and innovation, describing them as "engines of economies and incubators of innovation." The meeting, running from Tuesday to Thursday, is intended to empower participants with knowledge, facilitate the exchange of best practices, and promote the development of strategic partnerships at both bilateral and multilateral levels, in order to strengthen national MSME support ecosystems, Ndabeni said.
IOL News
22-07-2025
- Business
- IOL News
South Africa aims to shape the future of entrepreneurship in global startup ecosystem
Vuyani Jarana, chairperson of SU20, provided a concise overview of the StartUp20 engagement group within South Africa's G20 Presidency, highlighting the country's vast ecosystem. Jarana was speaking at the StartUp20 (SU20) Midterm Engagement Meeting in Ekurhuleni on Monday. Image: Supplied South Africa has positioned itself to take a leading role in shaping the future of entrepreneurship and innovation within the global startup ecosystem. This was revealed on Monday by the Department of Small Business Development (DSBD) at the StartUp20 (SU20) Midterm Engagement Meeting as part of the first-ever Global Small and Medium-sized Enterprises (SME) Ministerial Meeting organized by the International Trade Centre, the UN small business agency, in partnership with the South African government. Minister of Small Business Development, Stella Ndabeni, said the Engagement Group was unwavering in its mission to propel innovation, digital transformation, and policy collaboration. Ndabeni said this initiative aims to forge robust connections between global startup communities, ultimately better equipping local enterprises to navigate international markets.'We have identified five priority areas for the StartUp20 Engagement Group. 'First, Foundation and Alliance with the focus on enabling policies, and ways to build a more supportive and resourced eco-system for early-stage entrepreneurs and scale-ups,' Ndabeni said. 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 ✕ 'Second, Finance and Investment with the focus on addressing gaps in early-stage financing, cross-border financing, and ways to derisk investment, for underserved regions and groups like women and youth, including through pre-investment capital readiness support. Third, Inclusion and Sustainability with the focus on circular economy models, green innovation incentives, and pre-investment business support for youth and women led enterprises to improve capital readiness. 'Fourth, Market Access with the focus on facilitating international trade, enabling e-commerce, reforming public procurement systems and supporting regional integration, and fifth, Township and Rural Entrepreneurship with the focus on strengthening local value chains, improving infrastructure and connectivity, and improving access to finance and eco-system support for supporting co-operatives and micro enterprises.' Ndabeni said the establishment of Task Teams composed of both South African and international stakeholders marked a significant step in this collaborative venture, allowing for the exchange of policy recommendations and best practices. These discussions are crucial as they lay the groundwork for a clear action programme to be finalised at the upcoming Startup20 Summit on 13th and 14th November, which will also host the inaugural Startup20 Awards to highlight the best startups and ecosystem enablers from G20 nations. Salome Baloyi, acting chief operations officer and G20 engagement lead coordinator for South Africa's G20 Presidency, shared insights on the StartUp20 initiative. 'Our mission is to empower township and rural communities by breaking down barriers for small businesses, driving structural reforms, and accelerating digital innovation,' Baloyi said. 'We're pushing a bold agenda for startup and MSME development, prioritizing innovation, inclusion, and meaningful participation across all sectors.' Vuyani Jarana, chairperson of SU20, provided a concise overview of the StartUp20 engagement group within South Africa's G20 Presidency, highlighting the country's vast ecosystem. 'South Africa, as a member of the G20, participates in an international forum comprising 19 countries and two regional bodies, namely the European Union and the African Union,'Jarana said. He further noted that the primary objective of this international forum is to enhance multilateral cooperation, with a focus on recovering the global economy, stabilising global financial systems, promoting sustainable long-term growth, and strengthening international economic governance. Nkosi Khumalo, MTN general manager for SME and indirect channels, said they were partnering with various sectors to support small enterprises, drive innovation, and sustainability. 'As the MTN Group, we have invested in 4G and 5G technology to support businesses, developed a fintech platform to support small businesses with insurance capabilities and payment options, and leveraged powerful machines to assist small businesses,' Nkosi said. 'We develop innovation, offer digital skills, and certify businesses to position them for opportunities and contracts, such as those in Information Technology. We are also empowering black female business owners to ensure small businesses stay online.' BUSINESS REPORT
