Black-owned bank on the cards to empower SMMEs

citizen.co.za

- citizen.co.za | 4 months ago

The Black Business Council (BBC) yesterday unveiled plans to establish a black-owned bank to empower the small, medium and micro enterprise (SMME) sector, as a solution to a stagnant economy and a high unemployment figure.

According to Statistics South Africa, the economy only grew 1. 4% in the fourth quarter of 2018 contributing to an overall growth rate of 0.

8% for the entire year, with the unemployment rate having decreased to 27.

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