At the National Presidential MSME & Cooperative Summit 2024, the government announced that it aims to establish one million new SMMEs by 2030, recognising the critical role SMMEs play in economic growth and job creation. Key interventions announced include the National Integrated Small Enterprise Development Strategic Framework, a Small Enterprise Ombudsman’s Office (operational by 2025) and a Small Enterprise Development and Finance Agency to bridge funding gaps. Additionally, the government plans to repeal outdated legislation, introduce a Business Licensing Bill and leverage the African Continental Free Trade Area for global market access.
