Thursday, 22 September 2016

Press Statement: DA reply reveals government’s failure to budget for important Small Business fund

Democratic Alliance press statement by

Toby Chance MPDA Shadow Minister of Small Business Development 
Release: Immediate 

22 September 2016

In a reply to a DA oral question, Deputy President Cyril Ramaphosa admitted that government had not yet budgeted for its half of the funds to match the private sector’s contribution of R1,5 billion to the SA SME Fund. This is telling of government’s stance to be all talk without any tangible action in creating jobs.

The SA SME Fund is a joint venture capital fund between the private sector and government where the aim is to bolster the creation of jobs through supporting the growth of SMEs, which will ultimately create jobs. These joint ventures therefore serve as the engine room for creating jobs in South Africa.