R300m To Fund KwaZulu-Natal Small Business

SMALL businesses and cooperatives are set to receive a major shot in the arm when the KwaZulu-Natal Provincial Government rolls out over R300 million funding to projects run by Small, Medium and Micro Enterprises (SMMEs) across the province.

The amount, which is part of Operation Vula Fund District, will target the furniture, detergents, bakery, clothing and textile, and farming sectors, among others.

Operation Vula Fund is part of the provincial government’s radical economic transformation projects, which seek to increase the number of entrepreneurs from underprivileged communities, so that they can participate in the mainstream economy.

“Operation Vula Fund is a key cog in government’s Economic Recovery and Transformation Plan, as articulated in the State of the Province Address in February,” KwaZulu-Natal Premier Sihle Zikalala said.

During a Provincial Executive Council meeting chaired by Zikalala, the council heard that the Department of Economic Development, Tourism and Environmental Affairs received a total