The Western Cape Government’s Department of Economic Development and Tourism (DEDAT) and the Johannesburg Stock Exchange (JSE) have announced a collaborative initiative aimed at stimulating the growth of small and medium-sized enterprises (SMEs). The multi-year SME Accelerator Programme seeks to create economic opportunities and generate jobs for South Africans by bolstering the growth of SMEs in the Western Cape.
Partnership Between Esteemed Organizations
The esteemed JSE and the Western Cape Government (WCG) have teamed up to provide expertise to 100 SMEs, enabling them to expand and create a brighter future for the region. Mireille Wenger, Western Cape Minister of Finance and Economic Opportunities, expressed her excitement about the collaboration and emphasized the power of partnership between the public and private sectors in making a significant impact. The Growth for Jobs (G4J) strategy, which maps out the Western Cape’s economic growth and job creation trajectory towards a trillion-rand, jobs-rich, inclusive economy by 2035, further strengthens this commitment.
A Promising Programme
The SME Accelerator Programme will commence in 2023 and focus on a series of initiatives designed to facilitate the growth and development of SMEs within the province. The first year will introduce SMEs to capital providers interested in supporting their respective growth phases through a “capital matching” initiative.
Capital Matching Roadshow
The Capital Matching Roadshow scheduled to take place in Cape Town will match 100 companies across five sectors, namely tourism and film, agriculture and agricultural processing, real estate, the green economy and technology, and manufacturing, with capital providers to upscale their businesses, driving job creation and bolstering economic activity in the process.
Three-phase Initiative
The initiative will unfold in three phases: recruitment of SMEs, capital or investor readiness support for the SMEs, and a culminating event in Cape Town, where SMEs will have the opportunity to present their investment cases to investors for funding consideration.
Collaboration for a Thriving Business Ecosystem
Leila Fourie, JSE Group CEO, lauds the initiative as a significant aspect of the JSE’s strategy to align with the needs of their clients and the nation. The SME Accelerator Programme is a testament to the power of public-private partnerships in creating a thriving business ecosystem. This innovative endeavour has the potential to reshape the landscape of South African SMEs, driving economic growth and creating jobs for future generations.
