President Cyril Ramaphosa will tomorrow, Thursday, 28 March 2019, launch the Business Leadership South Africa Connect and SA SME CEO Fund Circle in Johannesburg.
Business Leadership South Africa Connect is an online trading platform which will link registered small, medium and micro enterprises (SMMEs) access to supply chain opportunities of large South African corporations that have an integrated global footprint.
The online portal will promote supplier diversity and the inclusion of black suppliers in the value chain.
This initiative will create market opportunities for black-owned SMMEs through linkages and networking between large firms and SMMEs. It will also support emerging enterprises with access to enterprise and supplier development.
This programme of broadening economic participation forms part of BLSA’s #BusinessBelieveInSouthAfrica campaign. One of the commitments under this campaign is support for small businesses.
The BLSA campaign supports government efforts, led by President Cyril Ramaphosa, to broaden economic participation and dilute the concentration of the South African economy in which a relatively small number of enterprises dominate all levels of supply chains and limit choices for consumers.
In February 2019 President Ramaphosa signed into law the Competition Amendment Bill which constitutes a boost for SMEs, economic inclusion and is intended to open the economy to fresh investment and innovation.
At this week’s event President Ramaphosa will concurrently launch the SA SME Fund CEO Circle which aims to finance and scale up black SMMEs.
The fund was set up under the auspices of the CEO Initiative in 2016 to stimulate growth and investment drawn from the expertise of South Africa’s top business leaders.
Fifty of South Africa’s largest companies have collectively invested R1,4 billion in capital in the SA SME Fund which is mandated to invest the bulk of its funding into black emerging businesses.
President Ramaphosa has urged all social partners across the public and private spheres to collaborate on finding long term sustainable solutions to combat and reduce inequality, poverty and unemployment, and to secure and create inclusive growth to build a prosperous South Africa.
Details of the launch of the BLSA Connect and SA SME CEO Fund Circle are as follows:
Date: 28 March 2019
Time: 08:00 (Media to arrive at 07:00)
Venue: 1 Discovery Place, Cnr Rivonia Rd & Katherine Street, Sandton, Johannesburg
For more information visit www.blsaconnect.com