by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – SAGE is accelerating its investment in small black-owned businesses in South Africa.
It has committed an additional R9,2 million (US$528 000) to interest-free loans to small information and communications technology businesses.
This commitment by accounting, financial, Human Resources and payroll technology company builds on the R18 million already invested over the past three years as part of its Enterprise and Supplier Development (ESD) programme.
This initiative, powered by Sage’s partnership with Aurik Enterprise Development since April 2020, forms part of Sage’s sustainability and society strategy and is focused on extending an opportunity to marginalised entrepreneurs.
Over the past four years, more than 40 South African black-owned exempted micro enterprises (EMEs) and qualifying small enterprises (QSEs), have been supported to become Sage Business partners.
These include implementation partners, resellers and independent software vendors (ISVs).
“With the unemployment rate at nearly 33 percent, job creation is an urgent imperative for South Africa,” said Pieter Bensch, Managing Director and Executive Vice President at Sage Africa and Middle East.
He believes the ESD programme supports the National Development Plan’s objectives of reducing unemployment by nurturing the small business sector.
In 2021, Sage said it provided R18 million in interest-free loans worth to EMEs and QSEs that are at least 51 percent black-owned.
Five of the businesses that Sage initially supported are now registered on the Sage Marketplace and the remaining 11 businesses are on track to start repaying their interest-free loans.
Following the success of the initial cohort, Sage plans to add six more businesses to the programme in the current financial year.
Andisiwe Jack Ngcwembe, Business Development Manager at Aurik Enterprise Development, said building businesses into “Assets of Value” that served their owners as well as their clients, was key to building a thriving, inclusive economy.
“Working with a partner like Sage, who shares this belief that impacting on businesses is key to positively impacting the country, is a privilege and we are proud of the work we have achieved together,” Ngcwembe said.
– CAJ News