The Western Cape Government’s (WCG) Department of Economic Development and Tourism and the JSE, the largest exchange on the continent, have announced a multi-year Small to Medium Enterprises (SME) development programme to stimulate the growth of the sector in the province.
The three-year programme will focus on numerous initiatives to facilitate the development and growth of SMEs in the province. This year will focus on a ‘capital matching’ initiative where SMEs will be introduced to capital providers who are interested in funding SME businesses in their growth phases.
The Capital Matching Roadshow that will be hosted in Cape Town aims to match 100 companies predominantly from five sectors including tourism and film; agriculture and agricultural processing; real estate; the green economy and technology; and manufacturing with capital providers with the aim of up-scaling the SMEs and driving job creation and increased economic activity.
The initiative consists of three phases: recruitment of SMEs, capital or investor readiness support for the SMEs and an event in Cape Town where SMEs will get the opportunity to present their investment cases to investors for funding consideration.
JSE Group CEO, Leila Fourie, said, “This new initiative with the WCG is a significant aspect of the JSE’s strategy to align our activities and services with the needs of our clients and country. We will continue to work tirelessly to collaborate with government to bring enhanced services that can add the much-needed value to economic growth.”
Premier Alan Winde said: “Small and medium sized businesses are the heart and soul of our economy. If they succeed so too does our economy. I welcome all initiatives and measures that help SMEs realise their full potential … to effectively create an enabling environment for economic growth that creates jobs – we need to take the lead and enhance the work of businesses, entrepreneurs, and informal traders.”
* For further information on this year’s capital matching initiative and entry criteria for SMEs visit: https://www.jse.co.za/me/sponsorships-events/sme-capital-matching-initiative
BUSINESS REPORT