Southern Africa’s small businesses lead next phase of African growth
Friday, July 22, 2022 | 170 Views |
Optimistic: Gabaraane has noted solid uptake of digital loan facilities amongst smaller businesses across the region
Gaborone-based BCC Southern Africa Head, Leina Gabaraane* believes Africa is entering an exciting expansion phase, characterised by rapid private business formation and growth.
As such, Standard Bank’s BCC division is deliberately focused on partnering with businesses to build a capability ecosystem that will support small traders, agri-businesses and entrepreneurs to grow.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...