JSE continues driving growth for SMEs
Reflecting on the success of its Small and Medium Enterprise (SME) Rise initiatives, the JSE says the SME sector remains the backbone of South Africa’s economy.
The stock exchange hosted an event to celebrate the evolution of these initiatives and some strategic collaborations it has entered into to empower businesses in the SME sector, including with various development and finance agencies.
JSE offers, through its SME Rise programme, a range of growth solutions for SMEs, including funding readiness, international expansion and capital access, which the JSE says is aimed at driving meaningful transformation and sustainable growth.
“SME Rise has provided the necessary resources and networks to help participating businesses grow market share, access funding and improve their competitiveness,” says JSE SME development head Cleola Kunene.
For example, the JSE's Enterprise Acceleration Programme, designed to propel companies into their next growth phase, has already welcomed 28 participants – many of them reporting rapid growth, including increased employment, significant revenue growth and enhanced capital-raising capabilities.
Notably, 15 companies from Small Enterprise Development Agency branches are currently being accelerated, with a particular emphasis on accessing international markets.
In 2023, the JSE, together with the Western Cape government's Department of Economic Development and Tourism, launched the Capital Matching Initiative to address the funding gap for SMEs in the Western Cape.
This initiative successfully achieved a 62% match rate among 90 participating SMEs and financing partners. This year, the JSE is expanding the initiative to the Eastern Cape and Free State.
“Together, we have made significant strides in fostering SME development across our nation and are eager to scale the work as we embark on the next phase of growth for South Africa’s SME sector,” Kunene says.
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