SMD

Annual Report 2023/2024

Programme expenditure

2023/2024

2022/2023

Final Appropriation

Actual Expenditure

(Over)/ Under Expenditure

Final Appropriation

Actual Expenditure

(Over)/Under Expenditure

Programme name

R’000

R’000

R’000

R’000

R’000

R’000

Administration

135 580

128 131

7 449

117 676

109 619

8 057

Sector and Market Development

150 890

127 600

23 290

120 670

116 644

4 026

Development Finance

795 996

790 455

5 541

1 318 484

1 315 286

3 198

Enterprise Development

1 446 842

1 438 640

8 202

976 059

972 371

3 688

Total

2 529 308

2 484 827

44 481

2 532 889

2 513 921

18 968

Annual expenditure as at 31 March 2024 amounted to R2.485 billion (98.2%) against the final appropriation of R2.529 billion, resulting in a variance of R44.5 million (1.8%). The main reasons for underspending are as follows: % Administration Programme contributed R7.4 million largely due to vacancies. % Sector and Market Development Programme contributed R23.3 million - largely on Product Markets (R18.8 million) due to tax non-compliance issues for the North West Development Corporation, as well as a partial payment to Manguzi market stalls project due to the slow progress of the project. Compensation of Employees and Goods and Services contributed R2.2 million each due to vacancies and cancelled foreign trips for the SMMEs and Co-operatives’ exposure to international platforms respectively. % Development Finance Programme contributed R5.5 million largely due to vacancies (R4.8 million). Craft Customised Sector Programme contributed R650 thousand to the underspending as funds were not transferred to Trade and Investment KwaZulu-Natal (TIKZN) (R300 thousand) as their co-funding was withdrawn, and to the Free State Development Corporation (FDC) (R350 thousand) due to compliance issues. % Enterprise Development Programme contributed R8.2 million largely due to vacancies.

Virements

During the 2023/24 financial year, virements were implemented in accordance with section 43 of the Public Finance Management Act (1999), and reported to National Treasury (NT).

State what virements were done and the request for rollovers

Programme

Adjusted Appropriation

Virement

Final Appropriation

R’000

R’000

R’000

Administration

138 343

(2 763)

135 580

Sector and Market Development

163 643

(12 753)

150 890

Development Finance

753 549

42 447

795 996

Enterprise Development

1 473 773

(26 931)

1 446 842

Total

2 529 308

-

2 529 308

Part A • GENERAL INFORMATION • Department of Small Business Development

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