'Radical economic transformation is needed to address access to capital'

Minister of Small Business Development Lindiwe Zulu says that small to medium sized enterprises and cooperatives can be the main drivers for economic growth, but radical economic transformation is needed to address the issue of access to capital, for black business.

South Africa has had a challenging year economically, which would have worsened the challenges faced by the country's small businesses.

On Tuesday, Minister Zulu announced the successes of the Department of Small Business Development over the past year.

She spoke to Stephen Grootes on the Breakfast Show.

I am a Minister of small business development for everybody but my experience on the ground is that the majority of blacks, especially youth and women and people with disabilities are not getting the support they deserve.

Lindiwe Zulu, Minister of Small Business Development

They need access to markets, so in government when we talk about radical economic transformation we say in the procurement process in departments and all, let us implement the 30% procurement or go beyond it, it means government's bulk money that must go to SMME's targets, blacks, youth and women because those are the people who do not have jobs.

Lindiwe Zulu, Minister of Small Business Development

Seda Sefa is not enough to cover the entire country especially because our budget is being cut, so that is why we call on everyone, private sector, big business, to look out for those opportunities and communicate those opportunities. This thing of supporting SMME's is a call on all nationals, because buying from SMME's is adding a job.

Lindiwe Zulu, Minister of Small Business Development

Click on the link below to hear what the minister had to say....


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