Recent devastating floods in the Western Cape and KwaZulu-Natal highlight the disproportionate impact of climate change on vulnerable communities, hindering South Africa’s development goals. The government has enacted a new law outlining the roles of provinces and municipalities in climate change mitigation efforts.
National Small Enterprise Amendment Act
The National Small Enterprise Amendment Act aims to streamline government support for small and medium-sized businesses, fostering broader economic participation. President Ramaphosa will establish a new entity, the Small Enterprise Development Finance Agency, which integrates Seda, Sefa, and the Cooperative Banks Development Agency. This one-stop shop will help aspiring entrepreneurs and promote cooperative banking institutions while enforcing fair trade practices through the small enterprise ombud service.
The act empowers Minister Stella Ndabeni-Abrahams to regulate the classification of micro, small, and medium enterprises, ensuring their growth and prosperity. By enhancing support for small businesses, South Africa aims to bolster economic growth and inclusivity.
Source: TimesLIVE
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