The NEF has been given by the DTI a responsibility to manage a R200 mil COIVD-19 Intervention Fund. This fund has been set up to assist manufacturers providing such items as:
Funds will be availed to black empowered businesses that can provide confirmation of valid and verifiable orders.
The funds can be utilised for the following:
The minimum loan amount will be R500,000 and the maximum is R10,000,000. And it will be structured as follows:
Kindly refer manufactures that meet the above urgently so that we can quickly start the application process. Funding criteria:
All referrals are to be forwarded to Ms Ntombesizwe Tywabi on firstname.lastname@example.org
We look forward to hearing from either yourselves or the entrepreneurs.Last updated: 25/03/2020
1. HOW TO APPLY FOR SUPPORT UNDER THE SPAZAS AND GENERAL DEALERS SUPPORT SCHEME
1.1 A spaza shop/ general dealer owner who is a South African and holds a valid trading permit (including temporary) or business license in the case of a general dealer qualifies to apply.
1.2 The qualify spazas and general dealer owner must go to their nearest Nedbank Branch or Nedbank desk at their nearest BOXER store for assistance to apply. The following documents will be required:
a) A valid South African ID document
b) A valid and original municipal trading license/ permit to trade or business license in case of a general dealer (COPIES ARE NOT ACCEPTABLE). Only permits or licenses issued by the municipality, NOT a councillor are valid
1.3 The qualifying Spazashop/ General Dealer owner must be willing to accept assistance to register with CIPC, SARS and UIF, in the case were the owner is not already registered before approval to participate in the scheme.
1.4 At the NEDBANK branch/ desk, the owners will be assisted to register on the SMMESA database, and complete the applicable application form.
1.5 The participating owners will be required to commitment and undertake to the following:
a) To buy products on the department approved basket of goods that will change from time-to-time, in particular products produced by South African SMMEs and cooperatives;
b) To operate a business banking account and will accept to participate in the SEDA supported business management support programme that includes assistance with inventory management and stock control, preparations of management and annual financial statements.
c) To uphold Environmental Health and Food Safety Standards and the Guidelines of the Department of Health, which will include:
i. Sanitizing before and after serving each customers;
ii. Disinfecting the service counters;
iii. Maintain the applicable social distance between customers and customer and service point;
iv. No sale of counterfeit goods and stale/ expired foodstuff;
v. Not use trading spaces as sleeping quarters.
2. WHAT IS THE SUPPORT AVAILABLE UNDER THE SCHEME
2.1 Access to working capital investment and revolving credit facility that is backed by the Khula Credit Guarantee scheme of SEFA in partnership with NEDBANK. The facility is available at participating wholesalers that are distributed country-wide. The list of participating wholesalers will be shared with approved spaza and general dealer owners.
2.2 Business Management support that includes assistance with basic financial management with support of Financial/ Business graduates that will be assigned to give dedicated support to the business over a 24 month period.
2.3 Legal compliance that includes assistance to register with CIPC, SARS and UIF, and other compliance requirements that may be necessary for participation in the scheme.
For additional assistance or enquiries, spaza shop and general dealer owners may call 0860 663 7867 or e-mail to Spazasupport@dsbd.gov.za
Media enquiries: +27 66 285 0433 or email@example.comLast updated: 01/05/2020