The Western Cape’s Department of Economic Development and Tourism (DEDAT) and the Johannesburg Stock Exchange (JSE) the largest exchange on the continent, announced today their collaboration on an exciting new initiative. This multi-year Small to Medium Enterprises (SME) development programme aims to stimulate the growth of the SME sector in the province.
“Small and medium sized businesses are the heart and soul of our economy. If they succeed so too does our economy. I welcome all initiatives and measures that help SMEs realise their full potential. One such intervention is our Growth for Jobs (G4J) strategy, which maps out and drives the Western Cape’s economic growth and job creation trajectory towards a trillion-rand, jobs-rich, inclusive economy by 2035. To effectively create an enabling environment for economic growth that creates jobs, we need to take the lead and enhance the work of businesses, entrepreneurs and informal traders,” says Western Cape Premier Alan Winde.
“It is a great pleasure to officially launch the SME Programme, a unique collaboration between the public and private sector, between the highly esteemed Johannesburg Stock Exchange and the Western Cape Government’s Department of Economic Development and Tourism, to ensure that a targeted 100 small and medium sized businesses have access to the expertise they need to expand and to create many more jobs in South Africa. I am on a mission to see many more of these kinds of collaborations because I strongly believe that when we come together, we can succeed in creating a much more prosperous future full of hope, with an economy that is growing, creating jobs, and where all businesses who want to expand, are able to” says MEC Mireille Wenger Western Cape Government Minister of Finance and Economic Development and Tourism.
“The JSE is focused on making a continuous meaningful contribution to the country’s national agenda and economy. We devote significant resources in our business to provide tangible solutions to fast-track SME growth and facilitate access to capital. This new initiative with the Western Cape Government is a significant aspect of the JSE’s strategy to align our activities and services with the needs of our clients and country. We will continue to work even more tirelessly to collaborate with government to bring enhanced services that can add the much-needed value to economic growth,” said Fourie.
“The partnership comes on the back of the ever-growing need to focus on driving economic growth and job creation in South Africa, with SMEs being identified in the country as vital to stimulating the economy and creating the next generation of successful entrepreneurs,” said Leila Fourie, JSE Group CEO.
The three-year programme will focus on numerous initiatives to facilitate the development and growth of SMEs in the Western Cape. The first year (2023) will focus on a capital matching initiative where SMEs will be introduced to capital providers who are interested in funding SME businesses in their growth phases.
“Access to capital remains one of the top three challenges for small and medium enterprises in South Africa. This is why we want to start with a focus on building networks of investors, incubators, industry bodies, and the finance sector to start their investment journey with the right SMEs,” said Fourie.
The Capital Matching Roadshow to be hosted in Cape Town aims to match 100 companies predominantly from five priority sectors including: tourism and film, agriculture and agricultural processing, real estate, the green economy, technology, and manufacturing with the aim of scaling the SMEs and driving job creation and increased economic activity across the province.
This first initiative consists of three phases: recruitment of SMEs, capital or investor readiness support for the SMEs, and an event in Cape Town where SMEs will get the opportunity to present their investment cases to investors for funding consideration.
A key focus of the Western Cape Government, DEDAT is to provide access to economic opportunities with a focus on employability as a key component of the “Growth for Jobs” strategy which envisages a jobs-rich, inclusive, sustainable, and resilient provincial economy.
For further information on this year’s capital matching initiative and entry criteria for SME’s visit: https://www.jse.co.za/me/sponsorships-events/sme-capital-matching-initiative
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally-connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself on being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 135 years.
As a leading global exchange, the JSE co-creates, unlocks value and makes real connections happen.
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