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Minister announces fund to support spaza shops

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Small Business Development Minister Stella Ndabeni has announced the creation of a R500 million Spaza Shop Support Fund that aims to enhance market competitiveness to help spaza shops and food handling outlets compete with larger retailers.
The article from SAnews.gov.za discusses the announcement by South African Minister of Small Business Development, Stella Ndabeni-Abrahams, regarding the launch of a R50 million fund aimed at supporting spaza shops, which are small, informal retail outlets typically found in townships and rural areas. This initiative, named the Spaza Shop Support Programme, is designed to empower local entrepreneurs by providing them with financial assistance, business development support, and training to enhance their operations. The fund will help these small businesses to formalize, improve their product offerings, and compete more effectively with larger retail chains. The program also aims to address issues like food security, economic inclusion, and the reduction of poverty by fostering local economic development. The Minister emphasized the importance of these shops in the community, not only as economic entities but also as vital social hubs.

Read the Full sanews Article at:
[ https://www.sanews.gov.za/south-africa/minister-announces-fund-support-spaza-shops ]