70% of top 40 SA companies contributed to R1.5 billion SME Fund

Today President Jacob Zuma held a meeting with the Presidential CEO Initiative, formed last Friday. It is led by Finance Minister Pravin Gordhan. He also met with Business Unity South Africa (Busa) President Jabu Mabuza.

The President wanted the initiative to report back on the work done by business, government and labour, to build confidence in the economy and reignite growth.

Speaking to Xoalni Gwala on the Afternoon Drive show, Mabuza says 70% of the top 40 South African companies have contributed to the R1.5 billion SME Fund, which will help fund small enterprises with growth potential.

We have started an exciting initiative, where we hope that in the next three years we will absorb a million youth in some internships that will cost about R15 billion, which we hope half of that will come from private sector, and on a package of some incentives will come from government.

Jabu Mabuza, Busa President

Mabuza says as the Presidential CEO Initiative is urging leaders to "mind their language" and not say things that will harm the economy.

Listen to the audio below to here more about the Presidential CEO Initiative...

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