Small businesses have welcomed the relief financial aid from the Durban Chamber of Commerce and Industry and Old Mutual in Durban.
Several Small, Medium and Micro Enterprises (SMMEs) were impacted by July’s civil unrest that saw widespread looting and the torching and destruction of businesses.
One of the beneficiaries, Obed Ngcongwana says damages to his business amount to more than R700 000.
The Chamber is also encouraging corporate businesses to assist affected SMMEs through financial sponsorships or skills transfer.
Meanwhile, South Africa’s Minister for Small Business Development Stella Ndabeni-Abrahams and her deputy Sidumo Dlamini, are busy with a roadshow themed: “Unlocking opportunities for SMMEs and Co-operatives for economic growth and job creation”.
The roadshow stopped in Kariega in the Eastern Cape on Monday trying to ensure there is a seamless engagement across all spheres of government with the SMMEs sector.
Ndabeni-Abrahams said there is a critical need to relax the funding criteria, as many SMMEs struggle to get access to funding.