Free State MEC for finance, economic development, and tourism, Ketso Makume, outlined a funding initiative aimed at unlocking economic opportunities and revitalising township economies across the province on Wednesday (1/4) at Phahameng, Bloemfontein.
The micro, small, and medium enterprises (MSMEs) funding programme is designed to support emerging businesses by improving access to financial resources, strengthening productivity, and building long-term sustainability.
During the budget vote speech for the current financial year, Makume committed to assisting and providing Free State MSMEs with strategic resources such as skills, networking, financial, and non-financial support to nurture their innovative ideas.
For this reason, the department launched this massive initiative, inviting MSMEs, informal business traders, and Free State spaza shops to apply for online funding incentives.
A total of 2 034 applications have been received through the online platform after the MEC extended the online applications in the form of a second window period from 11 to 20 September last year.
According to Free State Destea spokesperson, Mojalefa Mphapang, this initiative is an innovative way to ensure that businesses remain sustainable and continue to grow.
“We encourage business owners to take part in workshops and training sessions whenever they are offered. Having the right background knowledge and understanding of how to run a business is essential for long-term success,” he said.
The programme addressed common challenges faced by small businesses, while directing some applicants to relevant development financial institutions (DFIs) for further assistance where necessary.
“We don’t just provide financial assistance, we also offer a range of programmes that focus on non-financial support, which is a critical area that entrepreneurs need to invest in,” he added.
The initiative was part of the provincial government’s broader strategy to drive economic transformation, with an emphasis on job creation and local economic development. It also supported MSMEs as key contributors to sustain livelihoods and township revitalisation, but also enabled inclusive growth.
Refilwe Molekane
