President Zuma made much of his May 9th announcement of a new fund to finance entrepreneurs. It’s the first tangible deliverable of the collaboration government and business promised after their emergency meeting convened in February, prompted by the fallout from Nenegate.
The DA’s 2014 election manifesto called for the formation of a National Venture Capital Fund. How does this new fund stack up?
Zuma and Finance Minister Pravin Gordhan, and business at large, are relieved South Africa has so far avoided the dreaded ratings downgrade. The announcement came just three days after Moody’s retention of its investment grade rating for the country, seemingly emphasising government and business in partnership are serious about supporting small businesses and the important role they play in creating jobs and stimulating growth.