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IOL News
7 hours ago
- Business
- IOL News
Minister Ndabeni outlines steps to support small businesses and co-operatives
Minister of Small Business Development Stella Ndabeni is confident that the legislative and policy interventions will make the support to Micro, Small and Medium Enterprises more coherent. Image: Kopano Tlape / GCIS Small Business Development Minister Stella Ndabeni on Friday said her department was steadily moving towards closing policy gaps in order to remove constraints in a move to enable Micro, Small, and Medium Enterprises (MSMEs) and co-operatives to thrive. 'We move from the premise that the small enterprise support ecosystem has legislative and policy gaps. To this end, we are steadily closing those gaps to ensure that constraints are removed, and a more enabling environment is created for MSMEs and co-operatives to thrive,' Ndabeni said. Speaking during the budget vote in the National Assembly, she said the amendment of the National Small Enterprise Act has led to the establishment of the Small Enterprise Development and Finance Agency (SEDFA) and the Office of the Small Enterprise Ombud. Ndabeni also said the MSME and Co-operatives Funding Policy was approved by the Cabinet last year. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'We are now working on partnerships to establish an alternative MSME credit rating system as well as a movable asset registry to address the lack of collateral among MSME borrowers. 'The current risk assessment models used by financiers (audited financial statements, credit history, collaterals) are not suitable for MSMEs, as they are mainly designed for big businesses. With an alternative credit data model, we can ensure that financiers are able to use alternative data like bill payments, e-commerce activity, mobile money transactions, and others to foster financial inclusion for the majority of MSMEs.' Ndabeni further said they were working with the Department of Trade, Industry and Commerce on the Transformation Fund. 'This will be a game-changer for MSME funding. We must enhance MSMEs' readiness to secure funding, particularly in poorer provinces, townships, and rural areas.' Ndabeni stated that they have recently approved the National Business Licensing Policy and were now amending the Business Licensing Bill to simplify business licensing and introduce preferential licensing for targeted empowerment and promotion of previously disadvantaged groups in economic activity for specific sectors. She added that the department was finalising the National Entrepreneurship Strategy, which focused on the individual entrepreneur and their needs at different stages of development. Another policy initiative was the Township and Rural Economic Development and Revitalization Policy, which will go to Cabinet this year. 'This policy will enable a more consolidated approach by the government when it comes to supporting township and rural MSMEs and co-operatives. The policy calls for the creation of vibrant township and rural small business hubs, which will require a more coordinated approach by the three spheres of government around zoning, business licensing, infrastructure provisioning, and investment.' Ndabeni was confident that the legislative and policy interventions would make the ecosystem more coherent and ensure that more MSMEs were better served, especially those owned by women, youth, people with disabilities, as well as enterprises from townships and rural areas. According to Ndabeni, the department was also instituting a new service delivery model. 'We are developing a robust monitoring and reporting framework for all ecosystem players, which we will present to the Cabinet this year. We are also establishing internal research capacity and undertaking sector-specific value chain studies to inform targeted interventions in productive sectors of the economy.' She also said they have created a research think-tank to support evidence-based policy and formal partnerships with deans of commerce from higher education institutions. 'We are also finalising the appointment of a new Small Business Advisory Body.'
See - Sada Elbalad
9 hours ago
- Business
- See - Sada Elbalad
Egypt Eyes Chinese Market Opportunities as Guest of Honour at Guangzhou SME Expo
Ahmed Emam Egypt is looking to strengthen economic ties and carve out a greater presence in the Chinese market as it takes center stage as Guest of Honour at the International Small and Medium Enterprises (SMEs) Expo in Guangzhou, running from June 27 to 30. Leading the Egyptian delegation, Basil Rahmy, CEO of Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), and Essam El-Naggar, Commercial Minister Plenipotentiary and Chairman of the General Organization for Exhibitions and Fairs, held a series of high-level meetings with Chinese officials and business leaders on the sidelines of the expo. The talks focused on deepening cooperation between the two countries, with Egypt hoping to tap into China's renowned expertise in building a robust SME sector—a cornerstone of China's economic rise that has created millions of jobs and fueled industrial growth. 'We're exploring how Egypt can benefit from China's successful model, particularly in industrial and manufacturing projects,' Rahmy said, noting that Egypt's government is prioritizing the development of the SME sector as a key driver of economic growth, job creation, and reduced reliance on imports. This focus aligns with directives from Prime Minister Mostafa Madbouly to harness the potential of Egypt's SMEs in boosting investment opportunities, localizing industries, securing supply chains, and raising product quality to global standards—efforts that could enhance Egypt's competitiveness both domestically and in export markets. El-Naggar underscored that Egypt's participation as Guest of Honour reflects the growing depth of economic relations between Cairo and Beijing. 'Trade ties between our countries are continuously evolving. Egypt is keen to attract more Chinese investment and identify new paths for Egyptian products to enter the Chinese market,' he said. He noted that Egypt's presence at the expo—which hosts hundreds of companies from around the world—provides valuable exposure and opportunities for Egyptian enterprises to build partnerships and expand their footprint. 'There's significant potential for Egyptian small businesses to supply goods and services to the Chinese market. This would not only give these businesses access to one of the world's largest economies but also help them innovate, develop new products, and scale up production,' he said. He praised the support provided by Egypt's Ministry of Investment and Foreign Trade, which has worked closely with MSMEDA to enable Egyptian companies to participate in major international trade events. 'Participation in global expos is critical for opening new markets and showcasing the high quality and diversity of Egyptian products,' Rahmy asserted. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
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Business Standard
10 hours ago
- Business
- Business Standard
MSME credit top Rs 40 trillion as of March 2025, grows 20% annually
Credit to the Micro, Small, and Medium Enterprises (MSME) sector crossed Rs 40 trillion, registering a robust 20 per cent year-on-year (YoY) growth as of March 2025, primarily driven by strengthened priority sector lending (PSL) norms, targeted government initiatives, and increased digitalisation, which collectively enhanced lending capacity and improved credit accessibility across the sector, said a report by CRIF High Mark. Having said that, according to the report, the growth in active loans dropped to 1.3 per cent YoY in FY25 to 21.45 million at the end of March 2025. In FY24, growth in active loans was 24 per cent YoY. Data suggests that the MSME portfolio is holding up well in terms of asset quality, with the portfolio at risk (PAR) in the 31–90 days bucket at 1.7 per cent as of March 2025—the same level as in March 2024. Asset quality has improved in the 91–180 days bucket, where PAR declined to 1.2 per cent, and in the 180+ days bucket, where PAR stood at 5.7 per cent—an improvement of 90 basis points from the previous year.
The Print
16 hours ago
- Business
- The Print
MSMEs are foundation of ‘Aatmanirbhar Bharat': CM Yogi Adityanath
'MSME units are the foundation of an 'Aatmanirbhar Bharat',' the chief minister said in a post on his official X handle. He made the remarks on the occasion of International MSME (Micro, Small and Medium Enterprises) Day. Lucknow, Jun 27 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Friday said MSMEs are the backbone of a self-reliant India. 'Heartfelt wishes to all entrepreneurs who, through their tireless efforts, are advancing Uttar Pradesh towards self-reliance,' Adityanath said. Further, he said, 'Under the guidance of Hon'ble Prime Minister Shri Narendra Modi, the double-engine government is continuously working to promote enterprise and entrepreneurship.' According to an official, the chief minister is scheduled to launch several schemes at a programme being held at Lok Bhawan in Lucknow on Friday as part of the International MSME Day celebrations. The event is aimed at boosting employment, entrepreneurship, and giving global recognition to local products. Special benefits will be provided to youth and artisans, the official said. Adityanath will also launch the CM-Yuva Mobile App during the event. PTI KIS SHW SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
New Indian Express
2 days ago
- Business
- New Indian Express
Dream it, build it
It often starts with a simple idea — a soap handcrafted in a home kitchen, a puzzle designed at the dining table, or a small store on a bustling street deciding to take the plunge online. Ahead of Micro, Small, and Medium Enterprises (MSME) Day (June 27), it's these stories that deserve the spotlight, stories of humble beginnings that dared to grow, adapt, and dream bigger. 'Earthy Sapo started as a passion project, not a business plan,' shares Sheetal Kabra Mohanty, founder of the Hyderabad-based personal care brand. 'When I first began making soaps, I shared them with friends and family and participated in farmers' markets around the city. My goal was simple, to connect with people, understand their skin and hair care concerns, and see if my products could genuinely help. I wasn't in a rush. I spent nearly two to three years just doing that — listening, learning, and gathering honest feedback,' adds Sheetal. What followed was no overnight transformation. Sheetal spent years refining formulations and deepening her understanding of what customers truly needed. 'The response I received was not just positive, it was heartwarming. That's when I began thinking of Earthy Sapo not just as a passion but as a business,' she says. A key turning point came in 2017–18, when a loyal customer encouraged her to explore online retail. 'Amazon was the first e-commerce platform I joined. Their onboarding was seamless, and their vast reach — both across India and internationally which helped me take Earthy Sapo beyond local markets. Their robust logistics, user-friendly tech tools, and deep expertise in online selling made a huge difference. For me, Amazon became the launchpad that transformed Earthy Sapo from a farmers' market brand into one serving customers nationwide and beyond,' she notes.
