‘Black bank to help small busi­nesses ac­cess mar­ket’

The Star Early Edition - - POLITICS - TE­BOGO MONAMA

ANC trea­surer-gen­eral Zweli Mkhize has called on the party to se­ri­ously look into open­ing a bank that will cater for the fi­nan­cial needs of black peo­ple.

Speak­ing on the third day of the ANC pol­icy con­fer­ence in Nas­rec, Soweto, Mkhize said it was hard for small busi­nesses to ac­cess mar­kets and fi­nance.

“We need a black bank to cater for the needs of the small and medium en­ter­prises.”

Mkhize said the govern­ment needed to look into more cre­ative ways to en­sure that big busi­nesses as­sisted small busi­nesses.

“We must look into giv­ing them tax in­cen­tives for work­ing with small busi­nesses.”

He said small and medium busi­nesses should be some of the big­gest em­ploy­ers.

This was echoed by Min­is­ter of Small Busi­ness De­vel­op­ment Lindiwe Zulu, who said they were call­ing on the pri­vate sec­tor to sup­port the govern­ment

“We be­lieve that big busi­ness are not do­ing as much as they should.”

She added that trust be­tween busi­ness and the govern­ment needed to im­prove.

Zulu also called for the cen­tral­i­sa­tion of sup­port for small busi­ness, ad­mit­ting that there was poor co-or­di­na­tion of fi­nan­cial in­sti­tu­tions such as the CIDA Em­pow­er­ment Fund and the Small En­ter­prise Fi­nance Agency.

“There is poor co-or­di­na­tion be­tween the fi­nan­cial de­vel­op­ment agen­cies and the depart­ment. I think the depart­ment should be at the cen­tre of the sup­port given to SMMEs in need of hav­ing fund­ing.”

Zulu said that if the fund­ing was cen­tralised, it would be eas­ier for busi­nesses to know where to go and be led to bet­ter growth.

She stressed that the govern­ment was work­ing hard to en­sure that busi­nesses did not bear the dire con­se­quences of the strug­gling econ­omy.

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