The DA on Tuesday welcomed the apparent rejection by government of an 'absurd proposal' by the department of small business development to link SMME-funding during the national lockdown to race-based ownership.
The DA on Tuesday welcomed the apparent rejection by government of an ‘absurd proposal’ by the department of small business development to link SMME-funding during the national lockdown to race-based ownership.
This issue caused mass panic in the business community across South Africa due to a leaked document from the department, said DA MP Dean Macpherson.Although the department has now claimed that any reports of a 51% black-owned requirement were nothing but fake news, the truth was more complex, as the proposal appeared to have been mooted by government officials, though was presumably not adopted.
Minister of Small Business Development Khumbudzo Ntshavheni said at Tuesday’s interministerial briefing that the alarm about the black economic empowerment requirement for small to medium businesses to receive support and funding was “fake news”, adding that all businesses would be considered, though demographic and provincial factors would play a role.
Minister Ntshavheni says "demographic spread that is representative" must be applied wrt applications of small businesses & entrepreneurs for economic relief. Does this mean 80-9-9-2 applies? Does the demographic spread of the whole SA apply to determine who qualifies for relief?The authenticity of the document has presumably, however, been confirmed by those looking into its metadata.
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