President Cyril Ramaphosa has highlighted the importance of creating a conducive environment for businesses to drive economic growth and job creation. Speaking at the Presidential Micro, Small, and Medium Enterprises and Co-operatives Awards in Midrand, Johannesburg, he emphasized the role of micro, small, and medium enterprises MSMEs in the economy.
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Focus on MSMEs Ramaphosa announced a special focus on MSMEs for the upcoming G20 summit, encouraging stakeholders to bring forward ideas to spotlight these enterprises.
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Government Initiatives The government is collaborating with large corporates, banks, and non-banking financial institutions to create one million new MSMEs over the next five years.
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Five Game Changers Minister of Small Business Development Stella Ndabeni-Abrahams outlined five priorities to achieve this goal
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A Start-up Policy/legislative framework, potentially including a new Startup Act.
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The Township and Rural Economic Development and Revitalisation Policy.
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The Refuelled Incubator/Accelerator Programme.
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Implementing the MSME and Co-operative Funding Policy.
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Establishing a Fund of Funds.
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