Gauteng Rebuilding Fund applications opened
Small businesses hit by recent violent protests in Gauteng can from this week access relief funds from the provincial government.
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Small businesses hit by the recent violent protests in South Africa’s economic hub, Gauteng, can from this week access relief funds from the provincial government. Many micro, small and medium enterprises in the province have been brought to the brink by the effects of the COVID-19 pandemic. This was recently exacerbated by an outbreak of looting and vandalism in Gauteng and KwaZulu-Natal.
But now help is at hand. According to the Gauteng Economic Development Department and the Gauteng Enterprise Propeller, which helps develop SMMEs, R100-million would be made available for SMMEs in distress. Applications to access the fund have been opened.
The R100 million Gauteng Rebuilding Fund forms part of the province’s response to the riots that adversely affected many small businesses, particularly those without insurance. According to the department, R50 million was raised by the Gauteng government and the other R50 million was raised through partnerships with the Industrial Development Corporation.
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