SA govt considers bank to support small businesses

09 October 2014

The Gauteng government is considering launching a bank that will assist township entrepreneurs get access to funding to help grow their businesses, Premier David Makhura said on Tuesday.

“We will start to put into action the creation of a state bank that will support the township economy,” he told the Gauteng township economy revitalisation summit in Soweto.

Makhura said there was the Gauteng Enterprise Propeller (GEP) but it was not doing enough to assist businesses.

He outlined the plans his administration had for building township economy.

Over the next five years, government would invest R1-billion in building and improving infrastructure for entrepreneurs to operate from.

He promised delegates that government would look at some of the laws hampering business growth in townships.

Deputy president Cyril Ramaphosa said: “We want to push ahead with a state bank so that you can have access to funding so that you can run your businesses,” he said.

He asked the delegates why they had not set up a township stock exchange to assist businesses in raising funds through investments.


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