The Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina has praised national lottery operator, ITHUBA for contributing towards efforts aimed at South Africa’s economic recovery through its support to Small, Medium and Micro Enterprises (SMMEs).
Ithuba hosted a virtual celebration ceremony in honour of 82 small black-owned entrepreneurs funded through its Supplier and Enterprise Funding Programme. This year the grants were dispersed in response to the challenges created by impact of COVID 19 pandemic and lockdown restrictions on small businesses.
Deputy Minister Gina said SMMEs have been the hardest hit by the consequences of COVID 19 and it will take some time for many of them to recover fully.
“It is against this reason that we applaud the fact that ITHUBA made this undertaking of awarding these small businesses,” said Gina.
Up to 82 businesses benefited from the initiative. The funding varies between R50 000 and R1.5 million and up to R15.5 million has been set aside. All businesses selected are 100% black-owned, with special focus on women and youth.
“My message to all the 82 beneficiary SMMEs present today, is that, grab this opportunity with both hands and use this seed funding to make your business work. It is through that effort that the expansion of your Start-Ups will arise. As beneficiaries, you have a responsibility and unfortunately you owe it to posterity that these SMMEs you are leading, must never go-under, fail and become dormant,” said Gina.
The Group CEO of ITHUBA, Ms Charmaine Mabuza said ITHUBA had always been deliberate in contributing positively and actively towards developing South African communities.
“The various Supplier and Enterprise Development (SED) programmes that ITHUBA has launched reflect ITHUBA’s passion to support and help develop black-owned business through skills, infrastructure, business opportunities and funding
Enquiries:
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedtic.gov.za
Issued by: The Department of Trade, Industry and Competition (the dtic)
Follow us on Twitter: @the_dti
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