Towards the end last year, we announced our intention to embark on an entrepreneurship revolution focusing on spaza shops located in rural areas and the townships.
Our entities - Ithala SOC limited and Ithala Development Finance Corporation (IDFC) are deepening support for entrepreneurs in the informal economy.
We wish to announce that as from today, spaza shop owners, supermarkets and general dealers in KZN who are strictly South Africans can apply for the following:-
- A grant in a form of trading stock to the value of R 20 000.
- A total of R10 million has been set aside for this purpose. We are targeting 500 spaza shops across the province.
- The closing date for applications is the 16th March 2024. Successful applications will be announced on the 15th April 2024
- A soft loan of up to R100 000 at 2% interest, if it is a co-operative and 4% fixed interest for a Close Corporation/ Pty.
- A total of about R11.9 million has been set aside for this purpose through Zimele Fund.
- Applications will run indefinitely. Importantly, the turn-around time for processing of applications and responses will be two weeks.
Spaza shop owners in particular have long complained about being forced out of the market because they lack the buying power.
Their competitors, who are mostly foreigners, buy in bulk which makes them have a competitive edge.
We have reconfigured the Bulk Buying Warehouse in KwaSithebe, Mandeni with a cost of more than R15 million.
We have added a call centre and the online ordering system.
The first bulk purchase stock for spaza shops, supermarkets and general dealers is valued at R10 million.
In addition, we have made available 17 trucks to move the stock across the province.
This is to create direct access stock, reduce costs of goods and further make them accessible within local municipalities.
As a permanent arrangement, we are identifying buildings that are owned by Ithala across the province to be used as warehouses.
Shop owners to use the following details:
WhatsApp for quotation request:
Cell: 072 521 0897
Enquiry number:
Tel: 031 319 5500
E-mail addresses: zimeletradersfund@kznedtea.gov.za /
Website: http://www.kznbulk-buying.co.za
Enquiries:
Ndabezinhle Sibiya
Cell: 082 375 4742
Spokesperson MEC for Economic Development, Tourism and Environmental Affairs
Sitandiwe Dimba
Cell: 0820939495
Reputation Manager thala Development Finance Corporation
