R12-billion for local business in Ekurhuleni

Metro to pump money into local business.

The metro has set aside R12-billion to ensure youth-owned businesses and small, medium and micro-enterprises (SMMEs) reposition themselves as capable and preferred service providers to government.

Explaining the development Ekurhuleni’s executive mayor Clr Mzwandile Masina said the money will be ring-fenced to create procurement opportunities for local entrepreneurs, service providers and enterprises – especially businesses run by young people, people with disabilities and women.

“Out of this R12-b the metro has made a commitment to ensure that not less than R1-b will be spent per annum on 500 youth-owned enterprises, R500-million per annum on 100 emerging construction companies and over R500-m on black industrialists,” said Masina.

“The remaining R10-b will be used for general strategic procurement from emerging black businesses and community enterprises as part of the policy to transform economic participation.”

The metro is mindful of the reality that many emerging companies continue to experience challenges in surviving the business market because of structural constraints in accessing capital and sustainable market, the mayor added.

The municipality’s systems are now being upgraded to ensure payments to SMMEs are done within 15 days from the day all documentation has been submitted.

“We have made it our business to ensure that small businesses are paid far quicker because if that is not done, we risk collapsing them due to lack of capital.

“We have seen how many businesses went under in the past due to non-payment and we are not prepared to repeat such trends,” Masina said.

Meanwhile, SMMEs wishing to learn more about the metro’s open tender processes, view advertised tenders or provide services can now download tender documents from the metro’s official website at www.ekurhuleni.gov.za free of charge.

 

Other articles you may be interested in:

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Metro channels millions into disaster management efforts

 

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