At the Council meeting held today, the Ray Nkonyeni Municipality formally granted authority to the Municipal Manager to sign an agreement to partner with ABSA Bank Limited pertaining to the facilitation of enterprise development within the municipal jurisdiction.

This follows the fact that ABSA approached the municipality regarding the identified challenges faced by the SMME’s including those located within Ray Nkonyeni Municipality which pertain to their development, access to training and skills, capacity and finance related difficulties.

Council did not hesitate to approve the agreement as the program means that the municipality shall collaborate with ABSA and provide a comprehensive SMME development program which will ensure that in future the upcoming entrepreneurs grow to boost the local economy and create job opportunities.

According to this agreement the SMME’s which have a valid official order from the municipality with a sound capital to execute the procured task will be able to approach ABSA for a speedily and favorable consideration towards the credit facility application. Furthermore the qualifying businesses will also be assisted with capacity building program upon request.

Signing the agreement with ABSA, the municipality is of the view that small businesses are key to the local economic development program and will assist in fighting unemployment and poverty alleviation. In addition the Development Planning Services Department will deal with the implementation and the modalities once the agreement is underway.

Issued by:
Simon M April
Senior Manager: Mayoralty and Communications
+27 72 057 5387
+27 86 529 7121 /