The Ray Nkonyeni Municipality will formally sign an agreement with Absa Bank Limited with an aim of forming a partnership meant for enterprise development within the municipal jurisdiction.

This partnership comes after Absa approached the municipality regarding the identified challenges faced by SMMEs, including those located within Ray Nkonyeni Municipality (RNM) which pertain to their development, access to training and skills, capacity and finance-related difficulties.

RNM did not hesitate to approve of the idea of collaborating with Absa with the aim of providing a comprehensive SMME development program, aimed at equipping emerging entrepreneurs to grow and boost the local economy and create job opportunities. This collaborative agreement which will be signed on Friday, 07 December 2018 also means that SMMEs who have a valid official order from the municipality, with a good credit record, will be able to approach Absa for a speedy credit facility application. Furthermore the qualifying businesses will also be assisted with capacity building program upon request.

“We are very excited to be partnering with the Ray Nkonyeni Municipality in equipping and developing SMMEs in the area. Various skills development programmes focusing on entrepreneurship, money and people skills will be scheduled for business owners in the form of workshops,” says Sithembiso Cele, Absa’s Head of Public Sector in KwaZulu-Natal.

“Initiatives such as these are in line with Absa’s strategy of playing a shaping role in society and helping people bring their possibilities to life,” Cele added.

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.

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