Johnathan Paoli
President Cyril Ramaphosa has signed into law, the National Small Enterprise Amendment bill, ushering in more adequate government support for small and medium businesses and broadening South African participation in the economy.
Presidential spokesperson, Vincent Magwenya announced on Tuesday the assent of the President to the bill which amends the National Small Enterprise act of 1996.
Magwenya said the bill seeks to incorporate the Small Enterprise Finance Agency (SEFA), the Small Enterprise Development Agency (SEDA), and the Cooperative Banks Development Agency (CBDA) into a new entity the Small Enterprise Development Finance Agency (SEDFA).
“The new Small Enterprise Development Finance Agency will function as a one-stop-shop for aspiring entrepreneurs and promote the development of the Co-operative Banking Institutions (CBIs),” he said.
The spokesperson said the legislation established the Office of the Small Enterprise Ombud Service, which in addition to dealing with complaints, has the authority to recommend to the
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