TODAY OUR GUEST IS
Tumi Sefolo - Executive Lending at the Small Enterprise Finance Agency. A fund worth R694 million has been created to boost township entrepreneurs.
The capital has been allocated to South Africa's Township and Rural Entrepreneurship Programme, which offers financial support to small businesses in the informal economy.
The Small Enterprise Development Agency and the Small Enterprise Finance Agency manages the fund, which offers credit guarantees, loans, grants, and business support services to qualifying township and rural enterprises.
About 14 000 entrepreneurs – the majority being South African-owned spaza shop owners - have benefitted so far since the fund’s inception about a year ago.
It also supports township- and rural businesses such as auto mechanics, butcheries, fruit and vegetable vendors, hairdressers, bakeries, and open-air cooked meal sellers.