Ekurhuleni sets aside R12bn to assist youth owned businesses and SMMEs
The Mayor of Ekurhuleni Mzwandile Masina on Tuesday said the city has set aside R12-billion to ensure youth owned businesses and small, medium-sized and microenterprises (SMMEs) position themselves as capable and preferred service providers to government.
“The money will be ring-fenced to create procurement opportunities for local entrepreneurs, service providers and enterprises, especially businesses run by young people, people with disability and women,” said Masina.
“Out of this R12-billion, the City of Ekurhuleni has made a commitment to ensure that not less than R1-billion will be spent per annum on 500 youth owned enterprises, R500-million per annum on 100 emerging construction companies and over R500-million on Black Industrialists.
“The remaining R10-billion will be used for general strategic procurement from emerging black businesses and community enterprises as part of the policy to transform economic participation.”
Masina said the city was mindful of the reality that many emerging companies continue to experience challenges in surviving the business market because of structural constraints in accessing capital and sustainable markets.
He said the municipality systems were now being upgraded to ensure payments to SMMEs are done within 15 days from the day all documentation has been submitted.
“We have made it our business to ensure that small businesses are paid far quicker because if that is not done, we risk collapsing them due to lack of capital. We have seen how many businesses went under in the past due to non-payment and we are not prepared to repeat such trends.”
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
