South Africa’s Small Business Development Minister, Stella Ndabeni-Abrahams, has unveiled her department’s draft budget for the 2024–2025 financial year, which has been allocated US$131 million. This was reported by
Pretoria News, a partner of TV BRICS.

Meanwhile, most of the funds are planned to be spent on transfers and subsidies – 83.5 per cent. About 16.5 per cent will go towards staff salaries.

Ndabeni-Abrahams highlighted several important initiatives for which the money has been allocated. One of them is the Small Business Exporter’s Development Programme, which aims to develop 200 small and medium-sized enterprises (SMEs) during the 2024–25 financial year.

Stella Ndabeni-Abrahams urged South Africans, especially members of the public, to support local manufacturers both online and offline. The minister also indicated that the department will focus on developing policies and legislation for startups.

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