DURBAN - BUSINESS instruments and equipment worth a total of R28 million have been distributed to more than 100 small businesses in the King Cetshwayo District as part of the continuing roll-out of the Operation Vula Fund.
Once fully disbursed, the Operation Vula Fund will provide over 1 000 SMMEs throughout the province with equipment and business instruments worth a combined total of R300m.
Operation Vula is one of the programmes that the government is using to provide support to small businesses, especially those owned by the youth, women, people with disabilities and military veterans. It is divided into three tiers, with Tier 1 supporting businesses with assets to the value of R200 000, Tier 2 up to R500 000 and Tier 3 up to R2 million.
Over R300m has been set aside for this programme. Government plans to conclude the disbursement roll-out over the next few weeks.
The MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Ravi Pillay, and the MEC for Agriculture and Rural Development, Bongi Sithole Moloi visited King Cetshwayo District to roll out the fund in the district.
Sithole Moloi said government wanted to see small businesses succeed and that is why it had come up with programmes to support them.
“It is through growing small businesses that we can create black industrialists. We want you to grow beyond just supplying your neighbours to supplying even those beyond our country’s borders,” Sithole Moloi said.
Pillay congratulated the beneficiaries and emphasised that EDTEA would provide post grant support to them.
“We are very specific – that there must be post grant support. That means we as the department are going to be visiting you to see how you are doing. We are going to assist you with your financial management skills, maintenance skills but most importantly with market access.
“It is our job to help you access the market,” Pillay said.
Mayor of King Cetshwayo District Municipality, Lindo Phungula said the disbursements from the Operation Vula Fund in the district were bound to boost the economy of the district.
“Covid-19 has negatively affected many businesses within the district but through this fund we believe that we can help some of them recover and to create jobs,” Phungula said.
Daily News