The development of small, medium and micro enterprises (SMMEs) is to be boosted in KwaDukuza by a new partnership between Ithala Development Finance Corporation and the KwaDukuza municipality.
The formal signing of a memorandum of understanding (MOU) took place on Saturday morning at the Hampshire hotel in Ballito.This formalises a long term co-operation between them working toward a common goal and shared vision for the future.
In her welcoming address Ithala Group chief executive Yvonne Zwane spoke about the mass exodus of people to the city for employment and business creation.
She said this partnership with the municipality aims to create economic and business activities in the local community.
“We need radical economic change and we need partnerships to see that change. We are now making a commitment and creating a mutually beneficial relationship to bring it about,” said Zwane.
The main aim of this collaboration is to add value to the growth of the small business sector in the KwaDukuza.
Areas of focus for the two parties will be to provide enterprise development services like business mentorship and development services as well as access to finance to help empower SMMEs.
“We seek to forge strategic alliances with likeminded stakeholders to ensure that a more holistic approach to development and economic growth in the SMME sector may be achieved and our partnership with the KwaDukuza municipaliy through this MOU will assist us in
broadening our access to SMMEs in need,” said Zwane.
KwaDukuza is the first municipality to sign such a memorandum with the aim of empowering not only individuals but groups of people.
“We seem to be very fragmented as a community and governing bodies. Let us work as a team and coordinate to work towards a clear vision,” said KwaDukuza mayor Ricardo Mthembu.
