According to Small Enterprise Finance Agency (SEFA) Executive Finance Manager Tumi Sefolo, the department had divided the support into two different packages for informal and formal businesses.
Panelists from various public and private sector organisations, such as Aurik Enterprise Development, Tiger Brands and the Small Enterprise Finance Agency (SEFA), engaged on the topic.
The department mandated the Sefa to administer the R513-million fund. Around 35,865 applications were received from small businesses. But only 14,800 were fully completed, and 1497 approved.
