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South Africa Launches New Fund To Help Small And Medium Businesses

South Africa President Cyril Ramaphosa announced that the country has launched a new $95 million fund to help grow small and medium-sized businesses as part of its CEO Initiative. South Africa’s government, business leaders and labor leaders partner to solve some of the countries largest economic issues for the CEO Initiative. Now, its latest fund will serve as a big step in the right direction. According to Focus Economics , South Africa has had slow economic growth since its recession last year, and now the country is taking steps to reverse its impact. Back in May, Ramaphosa helped pass economic reforms that would ultimately put South Africa back on the path to growth. Last month, Ramaphosa signed the Competition Amendment Bill aimed at boosting small and medium sized business in addition to expanding innovation and investing in the economy. The SA SME Fund will allocate capital to three types of funds — venture capital, growth, and social impact funds. These funds will invest...

Apr 2, 2019