Government start paying from support fund
Spaza shops R6 million richer
Some spaza shop owners have received R6 million from the South African government.
This money is part of the R500 million in total the government has promised to pay spaza shop through the Spaza Shop Support Fund (SSSF).
The fund, aimed at increasing the participation of South African-owned spaza shops in the townships and rural areas retail trade sector, was launched last month.
“This is moving at a slow pace due to all the parties that are involved in coordinating the work, which includes inspections, verification of citizenship as well as site and health inspections.
“The fund will assist shop owners that met the deadline for the registration of an operating permit,” the minister of Small Business Development., Stella Tembisa Ndabeni, said during a media briefing in Pretoria on Thursday, 29 May.
It offers funding of up to R300 000 per shop through a combination of grants and low-interest loans.
In addition, it allocates funding specifically for initial stock purchases, infrastructure improvements, business development tools, and Point of Sale (POS) system adoption.
The fund is being administered by the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (SEFDA). Source: SAnews.gov.za
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