Chief Executive Officer Thankani Makhuvha of South Africa’s Small Enterprise Development Agency (SEDA), a government-funded entity, has reportedly stated that the organization intends to disburse approximately ZAR 737 million (USD 81 million) in loans to 15,000 small businesses in South Africa during the year ending March 31, 2014. This represents an increase of approximately 47 percent over SEDA’s fiscal year 2012/2013 loan disbursements of ZAR 500 million (USD 55 million). SEDA supports small businesses through direct loans to businesses and loans as well as guarantees through retail finance institutions. The newly announced funding is intended to help create approximately 18,000 jobs.
By Makai McClintock, Research Associate
Sources and Additional Resources
BizCommunity.com, “SEDA Plans to Lend Over R737m to 15,000 Small Businesses,” http://www.bizcommunity.com/Article/196/357/92216.html
SEDA.org, “Annual Report 2011-2012,” http://www.seda.org.za/Publications/Publications/Seda%20Annual%20Report%202011-2012.pdf
MicroCapital story, March 13, 2013, “MICROCAPITAL BRIEF: Deputy Prime Minister Mutambara of Zimbabwe Urges Banks to Stop Seeking Legal Action Against Econet’s Ecocash Mobile Banking Service and Start Competing,” http://www.microcapital.org/microcapital-brief-deputy-prime-minister-mutambara-of-zimbabwe-urges-banks-to-stop-seeking-legal-action-against-econets-ecocash-mobile-banking-service-and-start-competing/
MicroCapital story, December 25, 2012, “MICROCAPITAL BRIEF: FirstRand Bank of South Africa Receives $300m Line of Credit from African Development Bank (AfDB),” http://www.microcapital.org/microcapital-brief-firstrand-bank-of-south-africa-receives-300m-line-of-credit-from-african-development-bank-afdb/
MicroCapital story, November 7, 2011, “MICROCAPITAL BRIEF: FinMark Trust 2012 FinScope South Africa Survey: Banking Population Increased from 63% to 67% in Past Year,” http://www.microcapital.org/microcapital-brief-finmark-trust-2012-finscope-south-africa-survey-banking-population-increased-from-63-to-67-in-past-year/
MicroCapital story, August 9, 2011, “MICROCAPITAL BRIEF: South Africa’s National Treasury Releases Policy Document, “The South African Microinsurance Regulatory Framework,” to Address Access to Insurance, Consumer Protection for Low-Income Households,” http://www.microcapital.org/microcapital-brief-south-africa%E2%80%99s-national-treasury-releases-policy-document-%E2%80%9Cthe-south-african-microinsurance-regulatory-framework%E2%80%9D-to-address-access-to-insurance-consumer/
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