Business News: 1 000 SMMEs to Receive Massive R322 Million for Assistance
- A number of small businesses in KZN have received a monumental R322 million to assist in growing and supporting themselves
- The businesses are all based in Pietermaritzburg and the disbursement of the money is moving forth from the KwaZulu-Natal government through the Vula Fund
- Zikalala further explained that in future, the government will be keeping a close eye on the recipients to see if they need any more assistance
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Over 1 000 small businesses in Pietermaritzburg received a massive R322 million support from the local government. The disbursement of funds is taking place under the KwaZulu-Natal government's operation Vula Fund.
The Vula Fund has been in the works for four years. The KZN government authorities praised the event which happened on Tuesday as a chunk of the development of radical socio-economical alteration.
KZN Premier Sihle Zikalala stated that the small businesses that gained the funds were specifically selected from over 4 000 applicants. Zikalala said there was a meticulous examining process that started in September 2019 and concluded in March 2020.
Source: Getty Images
EWN reported that Ndumiso Mthethwa, an entertainment entrepreneur, was one of the people who benefited from the Vula Fund. Mthethwa acquired R2 million worth of support from the government.
The report continued by stating that Zikalala said that in the future, the government will pay close attention to and provide more support to beneficiaries that require such.
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Government facing issues regarding land that was bought and not used
Previously, Briefly News reported that Twitter user @ChristoThurston ignited a heated debate on social media over land expropriation after sharing a short clip of abandoned government land in the Limpopo bushveld.
According to the young man, the dishevelled land used to be a tea farm that employed over 3 000 workers. Today, it seems the tea farm is only a shadow of what it used to be, completely unkempt and overgrown.
"Makgoba Tea Estate in Makgobaskloof, Limpopo. This tea farm used to employ 3 000 workers. In 2006 it was purchased by government for R104 million. From 2011 to 2015, R65 742 000 was pumped into the farm. Today the tea bushes grow 3m tall and no one is employed," he captioned the informative clip.
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Source: Briefly News
