This week President Cyril Ramaphosa will launch an online trading platform called the Business Leadership South Africa Connect which will link registered small, medium and micro enterprises (SMMEs) access to the supply chains of large South African corporations with an integrated global footprint.

According to SA News, the Presidency said that this online portal will broaden economic participation that forms part of its Business Believe in SouthAfrica (BLSA’s) campaign in support of small businesses. The online portal also aims to promote supplier diversity and the inclusion of black suppliers in the value chain.

“This initiative will create market opportunities for black owned SMMEs through linkages and networking between large firms and SMMEs. It will also support emerging enterprises with access to enterprise and supplier development,” said the Presidency.

Furthermore the Presidency added that the BLSA campaign supports government efforts to broaden economic participation and dilute the concentration of the South African economy in which a relatively small number of enterprises dominate all levels of supply chains and consequently limits choices for consumers.

“Fifty of South Africa’s largest companies have collectively invested R1.4 billion in capital in the SA SME Fund which is mandated to invest the bulk of its funding into black emerging businesses, the fund was set up under the auspices of the CEO initiative in 2016 to stimulate growth and investment drawn from the expertise of South Africa’s top business leaders,” concluded the Presidency.

[Source – SA News] [Image – CC 0 Pixabay]