NATIONAL NEWS - Small Business Development minister Khumbudzo Ntshavheni will unveil funding instruments to improve financing of small, medium and micro-sized enterprises (SMME) on 14 November.
"Minister Ntshavheni will announce a package of measures and funding instruments which will prioritise women and youth," the ministry said.
The announcement comes as Statistics South Africa announced on 29 October that the country's unemployment rate rose to 29.1% in the third quarter.
Ntshavheni noted the disheartening unemployment statics: "I am of the firm view that the tide of unemployment in South Africa can only be turned around by the growth of the SMME sector. Key to the growth and sustainability of SMME's is improved access to funding, which has been a challenge to the majority of businesses."
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