Today at this media briefing held here in Margate Hotel, the Ray Nkonyeni Municipality would like to confirm that a formally signed agreement to partner with ABSA Bank Limited pertaining to the facilitation of enterprise development within the municipal jurisdiction has been sealed.

The municipality is delighted that that the signing ceremony has finally arrived in order to implement this program amicably. This signing ceremony has been coordinated following the verbal engagement with Absa Bank Limited and also the Council resolution in June which granted the municipal manager an approval to engage Absa on modalities of this agreement.

The agreement came to effect due to the fact that ABSA approached the municipality regarding the identified challenges faced by the SMME’s located in the area of Ray Nkonyeni Municipality which pertain to their development, access to training and skills capacity and finance related difficulties. Then the Council did not hesitate to approve the agreement due to the fact that the program means that the municipality shall collaborate with ABSA and provide a comprehensive SMME development program which will ensure in future that the small organizations grow to boost the local economy and create job opportunities in future.

According to the agreement signed today 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 organization will also be assisted with capacity building program upon its 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.

The municipality would like to thank Absa bank for choosing to partner with our municipality and wish the objectives set in the agreement will be fulfilled in order to improve the economy of this area.

For more information contact:
Simon M April
Senior Manager: Mayoralty and Communications
Ray Nkonyeni Municipality
10 Connor Street
Box 5
Port Shepstone
+27 39 688 2056
+27 72 057 5387
+27 86 529 7121 /