Left Menu
Development News Edition

Minister Ntshavheni to announce measures and funding instruments for SMMEs

The announcement comes as Statistics South Africa (Stats SA) on Tuesday announced that South Africa’s unemployment rate rose to 29.1% in the third quarter.


Minister Ntshavheni to announce measures and funding instruments for SMMEs
Ntshavheni noted the disheartening unemployment statics. Image Credit: Twitter(@PresidencyZA)

Small Business Development Minister Khumbudzo Ntshavheni is expected to unveil funding instruments that will improve the financing of Small, Medium and Micro-Sized Enterprises (SMME).

"Minister Ntshavheni will on 14 November 2019 announce a package of measures and SMME funding instruments for improved funding of SMMEs," said the Ministry of Small Business Development.

The announcement comes as Statistics South Africa (Stats SA) on Tuesday announced that South Africa's unemployment rate rose to 29.1% in the third quarter.

Ntshavheni noted the disheartening unemployment statics.

"She is of the firm view that the tide of unemployment in South Africa can only be turned around by the growth of the SMME sector, which must prioritize women and youth. Key to the growth and sustainability of SMMEs is improved access to funding, which has been a challenge to the majority of businesses," said the Ministry.

According to Stats SA's Quarterly Labour Force Survey (QLFS) unemployment rose by 0.1% from the second quarter.

(With Inputs from South African Government Press Release)


TRENDING

OPINION/BLOG/INTERVIEW

JNU Administration's 100-meter challenge before JNUSU

For the first time in its history, Jawaharlal Nehru University JNU Administration is seeking permanent deployment of local police to keep protesting students at 100 meters away from the Administrative Block. It would be interesting to see h...

Sentiment Analysis of Twitter users during COP25: Governments losing trust on Climate Action

Sentiment analysis of Twitter users during COP25 in Madrid, being held from December 2-13, shows widespread fear on climate change due to global warming but almost no trust on governments in meeting the emission targets. In the analysis the...

These innovators are making humanitarian response more efficient

These alarming trends prompt a call for the world to not only address the ongoing crisis but also to adopt innovative approaches to fulfill the growing humanitarian needs in such emergencies. ...

Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....

Videos

Latest News

Pakistan appoints Foreign Office spokesperson as its envoy to Germany

In a major diplomatic reshuffle, Pakistan has appointed 20 ambassadors and consul generals in its various missions abroad that also included Foreign Office spokesperson Mohammad Faisal who was named as the countrys new envoy to Germany. Acc...

Ducks knock off Rangers in shootout

Jakob Silfverberg scored a goal in regulation and added the deciding score in a shootout as the Anaheim Ducks rallied late for a 4-3 victory on Saturday over the visiting New York Rangers. Ondrej Kase also scored in the shootout for Anaheim...

Curfew relaxed in Guwahati, parts of Dibrugarh district

The curfew imposed in Guwahati and parts of Dibrugarh district following protests against the amended Citizenship Act was relaxed on Sunday, police said. Curfew was relaxed from 9 am to 6 pm in Guwahati. It was also relaxed from 7 am to 4 p...

Sharks edge Canucks to end skid, get interim coach a win

Logan Couture and Evander Kane each netted one goal and one assist and goaltender Aaron Dell sparkled in net as the San Jose Sharks won for the first time in seven games with a home-ice 4-2 victory over the Vancouver Canucks on Saturday. It...

Give Feedback