By helping SMEs finance their generators and solar power, they remain sustainable and productive
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This has ensured that their enterprises will remain sustainable and productive. In the process, she says, the vital SME sector, which contributes about 40% to the country’s GDP, has been able to grow, an important achievement considering that the sector employs about eight million people. Gauteng accounted for about 33% of approved finance, with equipment installed at 563 sites . Assistance provided in respect of solar and battery installations totalled R693 million. Generators attracted about R192 million of the province’s total uptake of more than R885 million.
KwaZulu-Natal applicants received R169 million of the funding, while Mpumalanga received R117 million , and North West Province received R87 million . Although the demand for energy financing packages came from all economic sectors, agribusiness was the most active. It accounted for R1.1 billion, or 40% of the financing uptake, with R935 million going to solar and batteries and R139 million to generators.
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