Broad-Based Black Economic Empowerment (B-BBEE) Commissioner, Tshediso Matona, says since 2017, the B-BBEE Commission has -- through its annual National Status and Trends on B-BBEE Report -- noticed that audited entities implement between 50% and 60% of ESD funds.
Enterprise and Supplier Development (ESD) funds are aimed at bolstering small business to make them competitive and sustainable.
Matona said SMEs continue to raise concerns over limited access to funding.
Taking part in a Youth Month Webinar organised by the Government Communication and Information System (GCIS) - in collaboration with the B-BBEE Commission - Matona said their main aim is to measure how ESD funds can be used effectively to promote the development and growth of black-owned enterprises.
“The aim is to build the capacity of local SMMEs to be ready to compete and strengthen the local economy, and the company's commitment to sustainable development and support of SMMEs,” Matona said.
Matona said the ESD, also known as Statement 400, is one of the elements of B-BBEE aimed at strengthening local procurement, enhancing local supplier development programmes and increasing financial support towards black-owned entities.
“The mandate of the commission is to investigate either on its own initiative or in response to complaints received, or any matter concerning B-BBEE,” he said.
Matona said as part of their mandate, they will promote advocacy, access to opportunities and educational programmes and initiatives of B-BBEE. – SAnews.gov.za
