Gcina Ntsaluba
2 minute read
20 Nov 2019
6:35 am

SA has too few entrepreneurs, report states

Gcina Ntsaluba

The report said micro, small and medium enterprises face serious challenges to access finance, skills and access to markets.

Mpho Ebeneza Spaza owner Nkhesani Mbombi serve Democratic Alliance Gauteng Premier Candidate, Solly Msimanga at her Spaza Shop in Johannesburg, 11 September 2018, as part of listening Tour to Ivory Park. Picture: Nigel Sibanda

South Africa’s rate of established entrepreneurship is extremely low compared to other African countries, according to a recently published report. The Unseen Sector, published by the World Bank and the International Finance Corporation (IFC) in partnership with SA’s National Treasury, provides an in-depth assessment of the micro, small and medium enterprise (MSME) landscape in South Africa – but it said the MSME sector has been relatively stagnant over the last decade. “Based on Statistics SA research, there were 2.3 million MSMEs in 2017, compared to just over two million in 2008. “Given the limited growth in MSME numbers, it appears...