The Informal Trader Support Programme will support informal and micro businesses in the informal sector following the recent unrest.
Financial and non-financial business focused support will be provided through the TREP programme and aims to support up to 13,000 entrepreneurs. In partnership with Nedbank, each entrepreneur will get R3000.00 (once off grant) to help informal traders who lost their businesses after the unrest.
The programme is designed to target the socio-economic challenges of informal traders in townships, rural areas, and small towns directly affected by the recent unrest, through:
Supporting the most vulnerable from business closure, job losses and income reductions
Providing resources to promote social inclusion in building back after the unrest
Providing support to the social and solidarity economy to fulfill their missions in relation to responding to impacted community needs
Investing in small businesses and traders which have suffered the effects of the unrest
Supporting entrepreneurship and strengthening business partnerships
- The informal trader must be a South African and must produce a valid South African ID document.
- They should have a bank account in South Africa and those who do not have should be willing to be assisted to open and use a South African bank account.
- No minimum turnover required for vendors.
- They must be willing to participate in the DSBD/ Seda facilitated business development processes.
- Preference will be given to businesses owned by women, youth and people with disabilities.
- NB: Applying entities in this category need not be registered with CIPC and SARS due to their size and status of operations.
sefa have entered into an agreement with Nedbank in terms of implementation of the Programme (similar to the existing agreement on the Fruit & Vegetable Vendors Scheme)
- Applications to be done via the participating bank - Nedbank
- Nedbank will utilise the various Informal Traders Associations to package applications and verify the operations of the Informal Traders