business

14 July 2024

Small Business Development Department ‘up to the task’

Location: News

Small Business Development Department 'up to the task'

Small Business Development Minister Stella Ndabeni-Abrahams says the department she leads is “up to the task” of unlocking the potential of small and medium-sized enterprises (SMMEs) in the country.

The Minister said this when she delivered the department’s Budget Vote in Cape Town on Friday.

“One of the main contributing factors to the low [economic] growth is that too many of our citizens are unable to participate in productive economic activities.

“So in addition to championing reforms that will address energy supply constraints, logistics and crime - which are the focus of Operation Vulindlela - we must also direct our energies to reforms that unlock the potential of SMMEs and the cooperative sector.

“This must be the core priority of the seventh administration, and one for which we bear responsibility as the Department of Small Business Development portfolio. [We] want to assure all members and society that even though we are young and still developing, we are up to the tasks that lie before us,” she said.

The department has been allocated a budget of some R2.437 billion.

Priority areas for market access

The Minister said the department is focussing on five areas related to market access and localisation, which have proven to be barriers for SMMEs.

“Firstly, we will support 200 SMMEs through our Small Business Exporter’s Development Programme to participate in ten trade events in the 2024/25 financial year. In this regard, R20 million has been allocated to exploit our AFCFTA, BRICS partnerships and various global trade agreements.

“Second, we will enhance our Market Linkage Programme to ensure placement of SMME products in strategic warehouses of wholesalers and the shelves of retailers. Through our partnership with Proudly SA, we are developing an e-commerce platform that is likely to go live in the second of this financial year.

“Third, we are working with the public sector in order to exploit opportunities which will be presented by the Public Procurement Bill (once signed into law). We are working with corporates through Community of Practice to influence Enterprise and Supplier Development (ESD) programmes and procurement of products from small enterprises and cooperatives,” she said.

Furthermore, there are plans to “actively building supplier capacity to meet and sustain the market requirements”.

“Here we provide quality improvement, product testing and certification, as well as productivity improvement through the Small Enterprise Development Agency (Seda).

“Through the Small Enterprise Manufacturing Support Programme (SEMP) at the Small Enterprise Finance Agency (Sefa) we have allocated an amount of R266.8 million which deepens the black industrialist programme and ensure more participation of small enterprise in the manufacturing sector.

“Fifth, priority is also given to new growth drivers with low barriers to entry. In this financial year (2024/25), we will focus on the energy sector and tech industry – while also implementing our Cannabis Support Programme that will look both at the industrial hemp value chain as well as how to mainstream small indigenous cannabis growers for lucrative markets,” Ndabeni-Abrahams said.

Financing small businesses and cooperatives

The Minister highlighted that financing “remains one of the key constraints for small businesses and cooperatives”.

In this regard, the department has developed an SMME and Co-operatives Funding Policy to expand access to financing and early stage investment.

“This policy will be a game changer as it also proposes an establishment Fund of Funds, which we are currently designing. The fund will de-risk and leverage investment from the private sector and institutional investors for start-ups amongst other things. We will also prioritise the development of a Startup Policy and legislation as required. This will be done in collaboration with relevant departments.

“We will also continue to build on the work we have already undertaken in the previous administration to invest more in under-served SMMEs and co-operatives.

“In this regard, Sefa disbursed R2 billion funding facilities against a target of R2.18 billion to 80 040 SMMEs and co-operatives which led to 98 378 jobs,” Ndabeni-Abrahams said. – SAnews.gov.za

NeoB
Sun, 07/14/2024 - 14:32

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13 July 2024

First GNU Cabinet Lekgotla kicks off in Tshwane

Location: News

First GNU Cabinet Lekgotla kicks off in Tshwane

President Cyril Ramaphosa is leading the first Cabinet Lekgotla of the Government of National Unity (GNU) at the Sefako Makgatho Presidential Guest House in Tshwane this weekend.

The lekgotla is expected to set out the programme of action government will undertake during the seventh administration.

Attending the lekgotla are, among others, Deputy President Paul Mashatile, Ministers and provincial Premiers.

Speaking to media on the sidelines of the all-important meeting, Minister in the Presidency Khumbudzo Ntshavheni said the programme of action is guided by the priorities set out in the GNU’s Statement of Intent.

“That will allow us to then go back and consolidate what you know as the Medium Term Strategic Framework. Now we are calling it the Medium Term Development Plan.

“The set of actions are being guided by the priorities agreed by the parties to the GNU. In those nine priorities there is going to be a number of presentations that will say how we agree on this. And we are guided, as another filter, by the National Development Plan (NDP),” she said.

The priorities, in short, include:
•    Economic growth, job creation and transformation
•    Creating a more just society
•    Stabilising local government,
•    Investing in people through education, skills development and healthcare
•    Building state capacity
•    Strengthening law enforcement agencies
•    Strengthening the effectiveness of Parliament
•    Strengthening social cohesion, nation-building and democratic participation, and undertaking common programmes against racism, sexism, tribalism and other forms of intolerance
•    Foreign policy based on human rights, constitutionalism, the national interest, solidarity and peaceful resolution of conflicts

“[Some of the priorities] focus on economic growth, inclusive growth and job creation. We are looking at what we should do to unlock the economy to grow so that it can create jobs for the people of South Africa.

“We are focusing on what are the areas of reforms that will unlock the economy, the issues around water, electricity and energy. We’re dealing with the issues around job creation, what the economic growth trajectory look like.

“To do that we need a partnership with business. We need also a capable, ethical and developmental state to have that capacity,” she said.

The Minister explained that the lekgotla will further be guided by “evidence-based planning and action”.

“The Statistician General [Risenga Maluleke] is going to present in terms of the indicators that we are looking at and what that means in terms of the government programme.

“We’ve tabled the budget of Statistics SA to say we are starting to work on the indicators of how … to support the implementation of the District Development Model to be evidence based…and to strengthen our research capabilities to make sure that we move with speed to achieve the goals of the NDP,” she said.

Ntshavheni clarified that following the lekgotla, Cabinet – which includes Ministers and the President – will adopt the programme of action.

“It has to be adopted by Cabinet. Cabinet is the governing authority of South Africa so it will adopt it and [then] clusters will go and work on their priorities and initiatives. From there departments go and work.

“The Department of Planning, Monitoring and Evaluation, during that period, will continue to work and make sure that there’s alignment across [departments] and everyone knows what they want to do.

“We are going to implement government priorities collectively because there’s no ‘DA minister’, there’s no ‘ANC minister’, there is only a ‘minister of government’.

“We are consolidating so that we have a single view and a single programme of action that is agreed to by all and that cascades to provinces,” she said.

President Ramaphosa will communicate the outcomes of the lekgotla during the opening of Parliament on 18 July. – SAnews.gov.za

NeoB
Sat, 07/13/2024 - 13:07

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13 July 2024

Cricket South Africa | CSA APPOINTS IMG ARENA AS OFFICIAL DATA SUPPLIER AND BETTING LIVE STREAMING PARTNER

Location: Sport

JOHANNESBURG: Cricket South Africa (CSA) today announced IMG ARENA, OpenBet’s sports data and streaming products arm, as its exclusive official...

13 July 2024

DIRCO faces critical staffing shortage due to budget cuts

Location: News

DIRCO faces critical staffing shortage due to budget cuts

International Relations and Cooperation Minister Ronald Lamola says his department, which is facing a critical staff shortage, must do more with less due to resource constraints.

A critical challenge faced by the department, Lamola explained, is managing exchange rate volatility, which affects 60% of expenditures allocated to missions abroad.

The Minister was speaking during his Budget Vote Speech for the 2024/25 financial year, where he announced that the department had been allocated R6.57 billion, which dropped by 5% compared to the previous year.

“Strategic cost management in this area is essential to safeguarding our financial stability. Equally vital is addressing employee compensation, where the current ceiling set by the National Treasury requires careful consideration to maintain workforce morale and operational efficiency.”

According to the Minister, the department could only fill critical vacancies identified at the head office to remain within the baseline for employee compensation, which resulted in a “very high vacancy rate”.

He said that this hurts the department’s operations and service delivery.

“However, several line function posts were filled at the Assistant Director, Deputy Director and Director levels, mainly through internal promotions to address the lack of upward mobility,” he added.

The Minister also announced that the department cannot fill all the critical vacancies with the available funds, and operations continue to be negatively affected.

“The June 2024 mission posts placement process was also deferred due to the shortfall in the compensation of employees’ budget. Additional funding is thus required to cover the shortfall and fill other critical vacancies at the head office and missions abroad.”

This financial year, he stated that the department will improve its information and technology and property infrastructure portfolio to optimise resources.

“This strategic initiative aims to release more lease funds and redirect them towards operational needs. While these budget adjustments pose challenges, they also present opportunities for efficiency gains and prioritisation of essential expenditures.”

He informed Parliament that the department will soon be advertising a cadet programme and a youth development initiative, which he deems crucial to the national youth development imperative and the department’s future capacity requirements.

The department is also finalising its organisational structure review process to streamline the business units and processes and optimise scarce resources to leverage global economic opportunities in advancing the country’s national interest, he added.

“Our commitment to delivering quality services and fostering economic growth remains unwavering. This budget signifies our determination to balance fiscal prudence with the imperative to support our citizens and invest in our nation’s future.” – SAnews.gov.za

Gabisile
Fri, 07/12/2024 - 11:11

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12 July 2024

Retrenchments in the platinum sector a cause for concern

Location: News

Retrenchments in the platinum sector a cause for concern

Mineral and Petroleum Resources Minister Gwede Mantashe says he is concerned about the recent retrenchments in the platinum sector.

“Whilst the mining sector employs 489 000 mineworkers, we have noted with concern the recent retrenchments specifically in the platinum sector. In response to these job losses, we have pulled our social partners together and are in discussions to craft an approach to minimise them,” Mantashe said, delivering the Department of Mineral Resources and Energy’s Budget Vote in Cape Town.

He said significant progress has been made by the National Energy Crisis Committee (NECOM) and National Logistics Crisis Committee (NLCC) who have formed partnerships with industry players to improve the state of infrastructure to support mining.

“The department is currently drafting amendments to the Mineral and Petroleum Resources Development Amendment Act (MPRDA) aimed at ensuring that areas that have been identified as weak and those that have been challenged legally are strengthened against international best practice.

“The amendments will also review the licensing regime to reduce red tape and improve the business environment for investors while keeping in sync with South Africa’s social and economic fabric,” Mantashe said.

He said the amendments are a continuation of the regulatory and policy adjustments initiated during the sixth administration.

“Given South Africa’s endowment with considerable mineral reserves of strategic significance to the global economies, we are convinced that increased exploration will enable the country to meaningfully benefit from its global advantage.

“To enable this the department, guided by the country’s exploration strategy, has in partnership with the Industrial Development Corporation (IDC) established an exploration fund to support emerging and junior miners,” Mantashe said.

Government intends to intensify engagements with several fund managers and the investor community to secure additional financing to sustain the fund into the future.

The department has allocated R72 million to fund artisanal and small-scale miners, including women and youth-owned companies.

Mantashe said the health and safety of mine workers remains at the centre of government’s work.“Owing to our strategic partnership with our social partners we have improved our performance towards the zero harm goal,” he said.

The Minister said this is demonstrable in the decline in mine fatalities, injuries and occupational diseases as evidenced by the 49 fatalities being the lowest on record in 2022.

“Although we had set our sights on beating this record in 2023, the regrettable disaster at the Impala Rustenburg that killed 13 mineworkers and many other fatal incidences contributed to the regression resulting in 53 fatalities reported in 2023.

“We have also noted with great concern the emerging trend of fatalities related to motor accidents and disasters involving illegal miners.

“To this end, the department has entered into an agreement with the industry on the development of minimum standards and guidelines to mitigate against road fatalities, while intensifying the fight against illegal mining,” the Minister said.

In the 2024/25 financial year, the department has been allocated at least R8.84 billion, of which R6.4 billion is earmarked for transfers to public entities, municipalities, and other institutions or implementing agents. – SAnews.gov.za

Edwin
Fri, 07/12/2024 - 12:19

477 views

12 July 2024

TT Waterproofing Offers Expert Tips on Comprehensive Home Waterproofing

Location: MyPR

Gauteng, South Africa – TT Waterproofing, a well-established market leader in the installation of roofing and waterproofing systems, shares valuable insights on the importance of comprehensive waterproofing for homes and businesses. With over nine years of industry experience, TT Waterproofing has become synonymous with reliable roof repairs and waterproofing solutions across Gauteng, including Pretoria. Waterproofing: …

12 July 2024

Stats SA budget reinforces commitment to country development

Location: News

Stats SA budget reinforces commitment to country development

Minister in the Presidency Khumbudzo Ntshavheni says as government commences with the work of the seventh administration and the next 30 Years of Freedom, it is important to address the challenges that still confront the country with greater performance and momentum.

“We need to continue to support Stats SA and ensure it plays a pivotal role in providing critical socio-economic data that informs decision making across government and business broadly,” Ntshavheni said.

Presenting the Stats SA Budget Vote in Cape Town on Wednesday, Ntshavheni said it is statistical data and information that will give government insight into the nation’s needs and achievements, and will help monitor and evaluate the effectiveness and outcomes of government policies and programmes.

“Therefore, understanding and managing the data ecosystem is crucial for the country to harness the full potential of data, make informed decisions and adapt to evolving business landscapes,” Ntshavheni said.

Ntshavheni said this will be achieved through collaboration, partnerships and platforms and that Stats SA must continue to lead in the South African data ecosystem to ensure that the data gap is closed.

“Statistical data is indicating that our economy is three times larger and many times more inclusive and diversified than it was 30 years ago. Millions of citizens have been lifted out of poverty and employment has more than doubled.

“Despite this progress, millions remain unemployed, in particular, the youth who are caught in structural unemployment where the qualifications they possess are not relevant for the job market nor self-employment.

“For South Africa to reach its developmental goals as espoused in the National Development Plan (NDP), there is a need to use data and statistical information to not only improve the performance of government, but all of society,” Ntshavheni said.

Ntshavheni said as a government that considers itself to be located within communities and society, it will work with all sectors to secure growth, security and prosperity that all wish to enjoy in a lifetime and into the future.

“Therefore, Stats SA will be one of our key institutional assets on this quest for a better future. This asset, Stats SA, is a jewel in the crown of the capacity of the state and its rigour and integrity is globally respected.

“Stats SA itself has a productive, intergenerational mix of experience and institutional memory alongside the energy and innovation that comes with a cohort of statisticians and other professionals who were born and educated in this democratic dispensation.

“For the richness of Stats SA’s outputs, we are deeply indebted to the millions of South Africans, who trustingly and graciously share their information and time with us so we can have numerical picture of the nation as it goes about living and working,” the minister said.

Ntshavheni said Stats SA’s 2024/25 Work Programme reflects the drive to deliver the statistics that the country needs and can apply to build a better South Africa.

“Stats SA delivered the results of the first digital census to the nation in October 2023. The population census offers us the most comprehensive set of statistical information to the lowest geographic level,” she said.

The Medium‐Term Expenditure Framework (MTEF) for Stats SA is R2.65 billion for 2024/25, and R2.75 billion and R2.89 billion in the 2025/26 and 2026/27 financial years, respectively. – SAnews.gov.za

Edwin
Fri, 07/12/2024 - 09:52

217 views

12 July 2024

Food parcels pile up in Gauteng warehouses because food banks have no money to distribute them

Location: News

Provincial Department of Social Development delays funding

11 July 2024

More National Assembly committees elect chairpersons

Location: News

More National Assembly committees elect chairpersons

Thirteen more National Assembly committees have elected their respective chairpersons on Wednesday.

This followed Tuesday’s committee meetings where 16 committees elected their chairpersons.

The members elected to serve as committee chairpersons include:
• Portfolio Committee on Tourism - Lungi Mnganga-Gcabashe.
• Portfolio Committee on Human Settlements - Albert Mammoga Seabi.
• Standing Committee on the Auditor-General - Wouter Wessels.
• Portfolio Committee on Public Works and Infrastructure - Carol Phiri.
• Portfolio Committee on Cooperative Governance and Traditional Affairs - Dr Zweli Mkhize.
• Portfolio Committee on Police - Ian Cameron.
• Portfolio Committee on Sport, Arts and Culture - Joseph McGluwa.
• Portfolio Committee on Higher Education - Walter Tebogo Letsie.
• Standing Committee on Appropriations - Mmusi Maimane.
• Standing Committee on Public Accounts (SCOPA) - Songezo Zibi.
• Portfolio Committee on Small Business Development – Masefako Clarah Dikgale.
• Portfolio Committee on Trade, Industry and Competition - Mzwandile Masina.
• Portfolio Committee on Agriculture - Dina Pule.
• Portfolio Committee on Land and Rural Development - Tsakani Goodness Shiviti.
• Portfolio Committee on Social Development - Bridget Masango.
• Portfolio Committee on Electricity and Energy - Nomkhosi Mvana.
• Portfolio Committee on Women - Mary-Ann Lindelwa Dunjwa.

The Portfolio Committee on Science, Technology and Innovation postponed its meeting to a later date when it will elect a chairperson.

“The election of the chairpersons of committees paves the way for Members of Parliament to start deliberating on budget votes and other important business of Parliament, which requires the attention of committees,” Parliament said.

The National Council of Provinces will elect their respective chairpersons on Thursday and Friday.
National Council of Provinces elects Deputy Chairperson

Meanwhile, during its plenary session on Tuesday, the National Council of Provinces (NCOP) elected Poobalan Govender to serve as Deputy Chairperson of the Council.

A permanent delegate to the NCOP from KwaZulu-Natal, Poobalan, who is representing the Inkatha Freedom Party, joined the NCOP in the seventh Parliament.

Poobalan has been a Member of the KZN Provincial Legislature since 2014 and served on various committees, including Social Development, Economic Development and Tourism.

As NCOP Deputy Chairperson, he will assist the Chairperson in undertaking her duties, providing strategic leadership and will fill in if the Chairperson is unavailable.

This includes representing Parliament in international multilateral forums and the NCOP in international bilateral forums. The Deputy Chairperson also presides over the meetings of the Council when delegated by the Chairperson when she is not available.

During the same sitting, the Council also elected Denis Ryder as the House Chairperson for Committees and Oversight and Bhekizizwe Radebe as the House Chairperson for International Relations and Members’ Support.

Kolobe Regina Molokomme who is a Permanent Delegate to the NCOP representing Limpopo, was appointed as the Programming Whip.

The NCOP Programming Whip oversees the programme of the House and works jointly with the Presiding Officers to allocate plenary sessions for debates, consideration of legislation and Select Committee reports.

The Council also designated the NCOP Chairperson, Refilwe Mtshweni-Tsipane, the Chief Whip, Kenneth Mmoiemang, and delegates, Advocate Inkosi Mwelo Nonkonyana, and Nicholas Gotsell to serve on the Judicial Services Commission (JSC).

In terms of the Magistrates Act of 1993, the Council designated the following members to serve on the Magistrates Commission:
• Solomon Patrick Mabilo: (Ms Desery Fienies, alternate);
• Makhi Feni (Ms Mary Ndlangisa-Nodada, alternate); and
• Sylvia Nxumalo (Mr Mtikeni Patrick Sibande, alternate).

Mtshweni-Tsipane was elected as a permanent trustee to serve on the Board of Trustees of the Political Office-Bearers Pension Fund, with Advocate Nonkonyana as an alternate.

The rules of the Political Office-Bearers Pension Fund require that, following general elections, Permanent Delegates to the NCOP must elect one Permanent Delegate as trustee and one that will serve as an alternate on the Board. – SAnews.gov.za

Location: News

Financial boost for eThekwini youth-owned businesses

Twenty small and medium youth-owned businesses in eThekwini have received financial aid to enable them to grow and increase productivity for their businesses.

The youth-owned businesses received R10 000 each through the Youth in Business Programme, which aims to inject financial aid into the emerging businesses.

EThekwini Municipality’s Governance and Human Capital Committee Chairperson, Nkosenhle Madlala, who leads the programme, congratulated the recipients of the funding, and assured them that the Mayoral Youth Development Office will continue to aid emerging businesses and encourage entrepreneurship.

Madlala said the municipality’s Youth Development Policy is more than just a directive, but a promise to nurture the aspirations of young people and to provide them with the tools they need to succeed.

“The establishment of a youth fund remains a cornerstone of our youth development policy. This fund is not only a financial reservoir but a beacon of our unwavering support and belief in your potential,” Madlala said.

Madlala said the youth fund also helps the municipality set the agenda for the coming year and ensures that “we continue to align our efforts with your evolving needs and aspirations”.

Mayoral Youth Development Office Manager, Nokuthula Hlophe, said the office will continue to forge and strengthen relations with sister cities to promote youth development throughout the city.

Funding recipient, Sandile Mhlanga, expressed his appreciation for the cash injection into his business.

“We appreciate what the municipality has done for our businesses. As business owners, we wish the programme well and that it grows to greater heights,” Mhlanga said. – SAnews.gov.za

GabiK
Wed, 07/10/2024 - 11:33

125 views

10 July 2024

Regulatory Compliance and Security in Fintech

Location: MyPR

We all know that cloud-based functionality makes the world go round, especially when it comes to cloud accounting. But what about security, and ensuring that this digital landscape is properly regulated and controlled? After all, we can no longer lock up our sensitive financial documents in the office safe! But rest assured, there are several …

10 July 2024

Streamlining Your Business with OCFO’s Fintech and Automation Solutions

Location: MyPR

The rise of the Fintech industry and cloud technology has changed the way in which we do business. Gone are the days of disjointed and disconnected technology platforms that are unable to talk to each other and lack real-time reporting capabilities. The Fintech, automation and digital landscape has exploded, with a number of cutting-edge technologies and software …

9 July 2024

Mall of the South Partners with SOJO Business and Tourism Helping Hands Foundation, Joining Hands and Connecting Communities with the Help Thy Neighbour Mandela Day community initiative

Location: MyPR

In a heartfelt effort to make a difference to the underserved community in the south of Johannesburg, Mall of the South is proud to announce its continued partnership with the SOJO Business and Tourism Helping Hands Foundation on the 18th of July at the MOMO’s upliftment centre. Together with the help of local organisations and …