Published On: Wed, Feb 22nd, 2017

SA Budget: SMMEs receive financial dollar boost

budgetJOHANNESBURG, (CAJ News) – ABSA Franchising has welcomed the allocation of R3,9 billion (US$305 million) for Small, Medium and Micro Enterprises (SMMEs) in the 2017 South African Budget Speech delivered in Parliament on Wednesday.
Finance Minister, Pravin Gordhan delivered the speech, whose focus on SMMEs Dumisani Bengu, Head of Franchising at Absa, welcomed.
“The R3.9 billion allocated for SMMEs in the budget speech is a step in the right direction by the minister because these funds will contribute to help promote growth in the industry, eradicate poverty and promote employment in the industry,” Bengu said.
SMMEs are seen as a major contributor to South Africa’s economy and help address unemployment.
In 2014, government established the Ministry for Small Business Development as part of the government’s commitment to place the economy and job creation at centre stage.

CAJ News

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