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October 14, 2024On October 10, 2024, Minister of Small Business Development Stella Ndabeni-Abrahams will officially hand over machinery and equipment to 104 business owners in Greater Tzaneen, Limpopo province. This initiative aims to empower local entrepreneurs through support from various departmental programs.
According to the Department of Small Business Development, the equipment being distributed is sourced from several initiatives, including the Asset Assist Programme (AAP), the Cooperatives Development Support Programme (CDSP), and the Informal and Micro Enterprise Development Programme (IMEDP).
Minister Ndabeni-Abrahams will be joined by Deputy Minister Jane Sithole during the handover ceremony for the IMEDP, which provides 100% grants to informal traders. “Our mission is to deliver essential machinery and equipment to business owners in the region. Informal and micro enterprises have been promised these vital resources, and we are committed to keeping that promise,” the Minister stated.
The AAP is specifically designed to equip Micro, Small, and Medium-sized Enterprises (MSMEs) with crucial business assets, financial guidance, and expert advisory services. This initiative is critical for ensuring that small businesses possess the necessary tools to thrive and significantly contribute to economic growth.
Additionally, the CDSP provides blended financing options for eligible cooperatives, offering a combination of grants and loans. This financial support enables cooperatives to acquire machinery, equipment, and infrastructure, thereby fostering the development of sustainable and competitive enterprises across South Africa.
The handover event underscores the government’s commitment to supporting small businesses and enhancing the entrepreneurial landscape in the Limpopo province.