SA SMEs to get R325m from banks

JOHANNESBURG – South Africa’s state-owned Industrial Development Corporation (IDC) and French firm Thales have arranged a 325 million rand lending facility for small and medium-sized firms (SMEs) in the country, the IDC said yesterday.

The five-year facility is part of the IDC’s strategy to support SMEs and create jobs in poorer parts of South Africa, in line with government efforts to stamp out poverty and boost economic growth. Calyon, the corporate and investment arm of French bank Credit Agricole SA, was also supporting the facility, the IDC said.There were no further details.-Nampa-ReutersCalyon, the corporate and investment arm of French bank Credit Agricole SA, was also supporting the facility, the IDC said.There were no further details.-Nampa-Reuters

In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.

The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.