Latest news with #StellaNdabeniAbrahams
Zawya
a day ago
- Business
- Zawya
South Africa: Spaza Shop Support Fund information session to be held in Limpopo
Limpopo spaza shop owners will get an opportunity to learn more about how they can access financial and non-financial support from the Spaza Shop Support Fund at an interactive session at the George Phadagi Town Hall, in Thohoyandou, on Friday. The session is part of a countrywide campaign aimed at creating awareness about the Spaza Shop Support Fund. The campaign, which began in KwaZulu-Natal last month, is hosted by the Department of Trade, Industry, and Competition (the Dtic) and the Department of Small Business Development (DSDB). The R500m fund was launched by the Minister of Trade, Industry and Competition, Parks Tau, and the Minister of Small Business Development, Stella Ndabeni-Abrahams, in Soweto, on 8 April 2025. The national education and awareness campaign is being held in partnership with the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF), the agencies of the DSBD and the Dtic, respectively, which will be responsible for administering the fund. The interactive session with spaza owners in the Vhembe District Municipality will be an opportunity to learn more about how to apply for the fund and which requirements will they be expected to comply with. According to Minister Tau, government is taking a concrete step to formalise and empower the informal sector with the fund. Tau said supporting spaza shops would enable 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. Studies show that small businesses account for a significant portion of job creation in South Africa. 'By providing spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation,' Tau said. Minister Ndabeni said the role played by Sedfa and NEF was truly appreciated and that the department believed this fund would go a long way in assisting shop owners that are registered and have operating permits. 'Our partnership ensures that spaza shop owners are not only funded but are also trained, mentored, and integrated into reliable supply chains. This is about building long-term sustainability for township retail,' Ndabeni said. The aim of the fund is to support South African-owned township community convenience shops, including spaza shops, to increase their participation in the townships and rural areas' retail trade sector and to provide critical financial and non-financial support to township businesses, including community convenience stores and spaza shops. The fund also provides various types of support including the initial purchase of stock via delivery channel partners, upgrading of building infrastructure, systems, refrigeration, shelving and security, as well as training programmes which includes point of sale devices, business skills, digital literacy, credit health, food safety, business compliance. The fund also seeks to bolster the broader supply chain by fostering partnerships with local manufacturers, black industrialists and wholesalers. Through bulk purchasing arrangements and the promotion of locally produced goods, spaza shops will benefit from reduced costs and increased access to quality products.
The Herald
21-05-2025
- Business
- The Herald
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. TimesLIVE
