Gauteng sets up R500m fund to help businesses hit by unrest and Covid-19
By Siphelele Dludla
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THE GAUTENG provincial government has established a fund with more than R500 million to help businesses affected by the recent looting and the Covid-19 pandemic to get back on their feet.
Gauteng Enterprise Propeller (GEP) chief executive Saki Zamxaka made the announcement yesterday during an online engagement between the provincial government and black businesses.
Zamxaka said R250m would be allocated to the Township Economy Partnership Fund from an additional budget allocated by the provincial Department of Economic Development.
He said the GEP and the Industrial Development Corporation had already committed R150m each to a joint small, medium and micro enterprise (SMME) fund.