This was said recently at an Economic Empowerment Roadshow for small businesses and residents facilitated by the city council and ENSAfrica law firm at SanKopano Community Centre.
Gep’s Nadas Pillay said the branch was closed due to financial and other challenges which have been resolved through a realignment of budgets, programmes and management processes. This, he said, would help the GEP get more strategically involved in the province’s township economic revitalisation programme.
“The realignment will enable the GEP and other support agencies to also heed the MEC for Economic Development, Lebohang Maile’s plea for small businesses to be encouraged to venture more into manufacturing. This is in order to enable them to be more self-reliant and for the local economy to be retained in the township,” said Pillay
Pillay added that Gep would also focus on supporting co-operatives, which together with SMMEs, would benefit through training in business planning, marketing, financial tools and systems, mentoring and through the provision of loans.
“Qualifying SMMEs will be entitled to 80 percent of the loan requested while they are expected to contribute the balance and, co-operatives will receive 90 percent of requested loans and will be expected to contribute the balance as equity to show their commitment,” he said.
The Gep’s mentoring process would be for six to 18 months as part of incubating loan recipients towards sustainability and profitability. “They will be further supported through another government policy which requires contracted service providers for municipalities and the provincial government to purchase some of their products from local manufacturers,” he concluded.
Details: Gep 011 521 9800.
