President Jacob Zuma has announced that government and business will set up a joint fund to support small businesses.
Zuma met with Cabinet members and business leaders to discuss interventions to create jobs and transform the economy.
He emphasised the need to boost economic growth and confidence, following the decision by rating’s agency Moody's to maintain South Africa's negative outlook.
Business Unity South Africa (Busa) says that funding and stimulating SMMEs is an essential part of a greater drive to revive the ailing economy.
A key issue that a lot of SMMEs face is that they don't get the necessary funding and support.— Khanyisile Kweyama, CEO of Busa
Busa CEO says Khanyisile Kweyama says that the business community has been collaborating with government on several interventions and will maintain the momentum after Monday's meeting.
Listen to the full conversation from The Midday Report:
This article first appeared on 702 : Zuma announces plans to back SA's small businesses