Western Cape Government launches SMME Booster Fund

• Published date: 24 May 2022
• Publication title: South African Official News

One of my key priorities is to back entrepreneurs and small businesses, who are the engines of our economy. As a part of our plans to do this, I am pleased to announce that applications for the SMME Booster Fund 2022 will open this Thursday, 26 May 2022.

The fund will distribute R16 million to selected organisations, which deliver training programmes on Business Development Support and Access to Markets, for SMMEs.

Managed by the Western Cape's Department of Economic Development and Tourism, the SMME Booster Fund 2022 aims to enhance the sustainability of rural, urban, township-based, youth, people with disabilities and women-owned SMMEs based in the province.

Since the first iteration of the SMME Booster fund in 2019, the Fund has allocated R59 million in funding and supported 730 SMMEs in the Western Cape.

To mark the countdown to the launch of this exciting initiative, this morning I visited Owen Mdledle, owner of Baphumelele Fountain of Hope Farm in Philippi, who was one of the past beneficiaries of the SMME Booster Fund.

In 2019 and 2021, the Association for Savings and Investment South Africa (ASISA) received funding from the SMME Booster fund. With this funding they ran the Financial Literacy and Micro Enterprise (FLAME) Programme which offers business support to businesses with a turnover of less...