Finance Institutions must invest in SMEs - Mantashe

ANC Secretary-General Gwede Mantasha has challenged the South African Chamber of Commerce and Industry (Sacci), to work with government and civil society in order to grow South Africa into an inclusive and prosperous society.

He said the mandate of the new Ministry of Small Business was to ensure that SMEs became the engine for job creation. “Development Finance Institutions (DFIs) must have the right risk appetite to invest in SMEs, and the market will follow,” he said.

Reflecting on the prolonged bouts of industrial action this year, Mantashe said that lengthy strikes achieved very little benefits to workers. He also emphasised the need to introduce a compulsory strike ballot. “When you call a strike ballot, you test the support and mobilise your members for the strike, and through this grow your membership. If you don’t want a ballot, then you are an amateur.”