Barclays builds capacity for SMEs

The ESD programme will mainly focus on capacity building and link SMEs with the corporate value chain hence creating access to finance. The product will also help to provide access to markets through a purchase order finance closed loop model.

Speaking at the launch yesterday, Barclays Bank managing director (MD), Reinette van der Merwe said the SME sector has proven to be an important driver of economic growth and employment creation despite the fact that about 90% of them fail in their first five years.