Finweek English Edition - - THE WEEK -

The pri­vate sec­tor is of­ten blamed for self­ish profit-driven be­hav­iour while this sec­tor’s con­tri­bu­tions to the econ­omy as a whole tend to be over­looked. But the re­cently an­nounced R1.5bn fund set up by the pri­vate sec­tor to as­sist in the de­vel­op­ment of small and medium en­ter­prises (SMEs) is a wel­come boost for a coun­try that des­per­ately needs eco­nomic growth. Growth in this sec­tor is also likely to drive job cre­ation. “The fund is a pri­vate sec­tor ini­tia­tive but we are hop­ing that gov­ern­ment con­trib­utes. [...] we are fo­cus­ing on what busi­ness can pro­vide,” re­ported Dis­cov­ery CEO, Adrian Gore, as say­ing dur­ing the an­nounce­ment of the fund.

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