Big fund to boost manufacturing SMEs

A R300 million fund for SMEs has been launched to stimulate the manufacturing sector. According to Nazeem Martin, MD of Business Partners Limited, during the period between 2000 and 2013 the manufacturing sector’s contribution towards South Africa’s GDP shrank from 19% to 15.2%. The funding offered starts at R500 000 and the maximum amount offered over a five year period is R25 million, and will be open to manufacturers in agri-processing, textiles and clothing production, information and communications technology, electronics, automotive and chemical, green industries, as well as new innovation and technologies.

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