SOUTH AFRICAN BUSINESS Page 222 – 223
Innovative funding options are assisting South Africa's entrepreneurs.
NationaL government has created a new agency to spur the deveLopment of small, medium and micro enterprises (SMMEs). The Srnall Enterprise Finance Agency (SEFA) wiLL do the work previousLy done by three separate bodies, and aims to get Loans out to smaLL businesses as quickLy as possibLe. The SMME sector is seen as the most LikeLy to create new jobs as efficientLy and as cheapLy as possibLe. The new agency wiLL be under the controL of the IndustriaL DeveLopment Corporation, one of the biggest and most significant agencies in economic deveLopment in the country. The IDC in turn faLLs under the NationaL Department of Economic DeveLopment.