Small Business Funding in Mpumalanga

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Small business in Mpumalanga

Delivering the provincial Department of Economic Development and Tourism budget, Member of the Executive Council (MEC) Eric Kholwane said SMMEs and cooperatives are critical vehicles for transformation in the province. For this reason, the province has set aside R10-million in this financial year to help grow these small businesses.

The province will begin by revising its procurement regulations to support the growth of small businesses and cooperatives.

“To bring meaning to radical economic transformation, the nutritional needs of government departments and entities should be served through a new model that will support the development of agriculture in the province.

“An amount of R10-million has been set aside to support SMMEs and cooperatives in the implementation of this nutrition programme,” the MEC said.

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About Mpumalanga

History

Mpumalanga, formerly (1994–95) Eastern Transvaal, province, northeastern South Africa. It is bounded by Limpopo province to the north, Mozambique and Swaziland to the east, the provinces of KwaZulu-Natal and Free State to the south, and Gauteng province to the west. Mpumalanga province (called Eastern Transvaal province in 1994–95) was part of former Transvaal province until 1994. Nelspruit is the provincial capital.

Known for

Mpumalanga means Place where the sun rises. Due to the provinces spectacular scenic beauty and abundance of wildlife, it is one of South Africa’s major tourist destinations. Mpumalanga falls mainly within the Grassland Biome. The escarpment and the Lowveld form a transitional zone between this grassland area and the Savanna Biome.

The area has a network of excellent roads and railway connections, making it highly accessible. Mpumalanga is also served by a number of small airports, such as the Kruger Mpumalanga International Airport.

Mbombela is the capital of the province and the administrative and business centre of the Lowveld. Other important towns are eMalahleni, Standerton, Piet Retief, Malalane, Ermelo, Barberton and Sabie.

The world-renowned Kruger National Park offers a wildlife experience that ranks with the best in Africa. Established in 1898 to protect the wildlife of the South African Lowveld, this national park of nearly 2 million hectares, is unrivalled in the diversity of its life forms.

Economy

Mpumalanga’s economy is dominated by mining, mostly coal for the Eskom power plants that are also locatedin the province. As a result, it benefited from the commodity boom that lasted from 2003 and 2011, and has experienced much slower growth since it ended. Mpumalanga also has extensive heavy industry, which formspart of the long-standing Highveld complex, and a strong commercial agricultural sector. These industries have driven its growth since 2011. The strength of Mpumalanga’s major sectors has meant the province has been mainlyat,or above,the nationalaverage for employment levels and pay. Still, two fifths of the population –substantially more than the national average –live in former homeland regions, where infrastructure, employment and incomes lag behind national norms.

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Mpumalanga Startup environment

The Mpumalanga Economic Growth Agency (MEGA) is the official Economic Development Agency of the Provincial Government of Mpumalanga.

The agency aims to foster the sustainable growth and development of the Mpumalanga economy by attracting investment to the province, facilitating investment in the province and maximising the development impact of investment in the province.

MEGA is an expert on the economy of Mpumalanga and the investment opportunities it offers. It uses its knowledge of the province and alliances with strategic partners to package investment opportunities that have the highest probability of success and is able to provide support to both local and international investors.

MEGA offers a range of services relating to trade promotion, investment, funding and

property management.

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Major Companies in Mpumalanga

Sasol, the integrated oil, gas and chemicals company, runs several plants at Secunda. Products manufactured at the complex include synthetic fuel, petroleum, paraffin, jet fuel, creosote, bitumen, diesel and lubricants. Sasol’s coal liquefaction plant is also located in the town of Secunda. The primary feedstock for synthetic-fuel production is coal, and the plant is located in the heart of Mpumalanga’s coalfields.

A major goal of the provincial government’s Mpumalanga Economic Growth and Development Path (MEGDP) is to expand the industrial base of the provincial economy. The focus is on beneficiation, agri-processing and value chain development.

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