After consulting with some of South Africa's top entrepreneurs, President Jacob Zuma has announced that government and business will set up a joint fund to support small businesses.
The plan is to provide small, medium and micro-sized enterprises (SMMEs) with funding, market access, mentorship and other support structures.
Knife Capital co-founder Keet van Zyl contributed to the task team and believes that entrepreneurship is key to aggressive economic growth in the country.
Van Zyl explains that the guiding principals of the fund are to focus on job creation, expand capital investors, improve investor readiness of startups and provide mentorship structures.
Government is expected match the contribution made by business, and the ultimate goal is to see the fund expanded to a budget of R10 billion.
Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies: