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Spaza shops to get financial assistance during lockdown

1 April 2020 8:01 AM
Tags:
Spaza shops
small business
#Covid19
#21dayLockdown
Small Business Development minister Khumbudzo Ntshavheni gives an update on how small businesses will be helped.

In an effort to mitigate the spread of COVID-19 South Africans are going through a 21-day lockdown.

However, one of the concerns of the lockdown is what will happen to the country's small businesses and Spaza shops during this time.

RELATED: Jonathan Oppenheimer on exactly how the R1bn lifeline for small businesses works

Small Business Development Minister Khumbudzo Ntshavheni on Tuesday outlined steps to support small businesses and Spaza shops in the country during the lockdown.

R500 million has been allocated to Spaza shops which meet a certain criteria.

Ntshavheni joins Bongani Bingwa to give more insight on the matter.

The impact on spaza shops is severe given the fact that we are saying people shouldn't move long distances to go to malls, they must shop locally to minimise movement. Spaza shops have a challenge of stocking up to make sure that they have sufficient stock for their customers.

Khumbudzo Ntshavheni, Minister - Small Business Development

A scheme has been launched to support Spaza shops to be able to buy goods from pre selected wholesalers and the government has negotiated discounted prices, she says.

This gives them fix capital and credit facilities to allow them to act. In that way they will not run out of money to buy stock.

Khumbudzo Ntshavheni, Minister - Small Business Development

Listen below to the full conversation:


1 April 2020 8:01 AM
Tags:
Spaza shops
small business
#Covid19
#21dayLockdown

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