OR TAMBO hall in Mthatha was filled to capacity by emerging and aspiring entrepreneurs last Wednesday who attended the road-show that was organised by the Small Enterprise Financial Agency (SEFA).
The agency, a direct subsidiary of the IDC owned by the government and under the department of Economic Development was established in April 2012 with the aim of funding small to medium enterprises throughout the country.
Its main emphasis is on the aspiring, new and small entrepreneur who needs to be capacitated to expand the emerging business’ horizons.
National chief executive officer of the agency, Thakhani Makhuvha said that they provide direct funding from R50000 to R5-million at wholesale and from R500 to R50000 through intermediaries.
“The agency is targeting citizens and hence the main criterion for eligibility is a SA identity document and outsiders can partner with locals when the citizen is the majority share-holder of the entity,” said Thakani.
Also significant in the application process, Thakani said is the availability of a comprehensive business plan that simplifies assessment of projected business.
The agency is targeting youths and women particularly in the rural communities with a passion for business and has allocated a large chunk of funding to expedite narrowing of unemployment rate among the youths.
The road-show was introducing the funding agency and the requisite modalities of ac-cessing the funds to the Mthatha community and was also attended by commercial bank representatives, IDC, SEDA and NYDA who are integral in the disbursement and mentoring of the targeted business aspirants and emerging entrepreneurs.