SMD

Annual Report 2023/2024

• We developed the MSME and Co-operatives Funding Policy, which has recently been approved by Cabinet, and which among things, allows for the establishment of a Fund of Funds, and a moveable asset registry. We have laid a solid foundation and are well positioned to scale financial and non-financial support to small enterprises during this 7th Administration, working as a leadership team with Deputy Minister Jane Sithole and newly appointed Director General Thulisile Manzini. In line with the NISED, we will be focused on five priority areas: (1) reducing red tape; (2) enabling more accessible and less costly finance to MSMEs and co-operatives; (3) enabling market access and tackling barriers to entry for small enterprises, (4) providing access to higher quality business skills and entrepreneurship support, and (5) building capacity and capabilities within the department and the new entity SEDFA to deliver services, and lead the entrepreneurship support eco-system.

I would like to thank the Deputy Minister I worked with during the 2023/24 Financial Year, Ms Dipuo Peters, the Chair and Board Members of Seda and sefa , as well as the Director General, management and staff of the department for their commitment and support. I would also like to thank the Small Business Development Portfolio Committee under the leadership of the late Honorable Violet Siwela for their wisdom and guidance, and for holding us accountable for our performance and resource utilization.

Ms Stella Tembisa Ndabeni-Abrahams, MP Minister of the Department of Small Business Development Date: 29 September 2024

Part A • GENERAL INFORMATION • Department of Small Business Development

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