South African President Cyril Ramaphosa approved the National Small Enterprise Amendment Bill, establishing SEDAFA and the Small Enterprise Ombud Service for SMEs.
South African President Cyril Ramaphosa approved the National Small Enterprise Amendment Bill to streamline gov't support services for SMEs. It establishes the Small Enterprise Development Finance Agency (SEDAFA), a one-stop-shop for entrepreneurs, creating the Office of the Small Enterprise Ombud Service to handle complaints and prohibit unfair trading practices. The Minister will set criteria for classifying micro, small, and medium enterprises and related legislation.
July 23, 2024
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