SEFA to Plug Funding Gap

A new agency, Small Enterprise Finance Agency, aimed at funding small businesses, has committed itself to doing things differently from traditional banks.

SEFA’s interim executive of wholesale funding, Loni Mamatela, states that the agency, whose mandate is largely funding, will also provide funding of R50 000 and R3 million to small businesses. .

SEFA was formed less than a month ago through the merger of Khula Enterprise, South African Microfinance Apex Fund and the Industrial Development Corporation's small business lending book.

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