​Lerato Mailoane
The Gauteng Department of Economic Development has announced a R100 million rebuilding fund for small businesses impacted by both the COVID-19 pandemic and the recent looting.
This fund, announced today, will give a lifeline to township businesses, ranging from SMMEs, informal sector, taxi economy, township property sector and township retailers affected by these.
"Last month we witnessed the looting of business and government premises. The 5 days of unrest caused immense damage to the Gauteng Economy, currently estimated at R3,5 billion. It was an unrest in which small enterprises suffered the most, with some losing the entire stock and infrastructure," MEC Tau said during a media briefing. 
"In Gauteng, more than 18200 people lost their jobs as a result of the unrest and with 48% of SMMEs uninsured, it would be difficult for them to return to work and business soon," he said.
Tau was joined by the CEO of Gauteng Enterprise Propeller, Saki Zamxaka and representatives from the Industrial Development Corporation (IDC).
The R50 million of the fund was from the Gauteng provincial government while the other R50m was raised through partnerships with the IDZ. 
The MEC said his department had conducted a survey and a decision was taken to save them.
"Government cannot afford to allow the small enterprises to collapse, hence we have gone to the roundtable discussions and started targeting funds internally and through partnerships, that can be better used to reignite the economy."
The funding, which will be offered as a 50/50 blend of loan and grant, will help businesses cover rebuilding costs, repairs, replacement of infrastructure, inventory, equipment and critical supplies.
It will also cover increased business security and employee costs.
This funding will not be open to businesses that have claimed from insurance, the financing for normal expansions, payment of non-operational expenditure such as bonuses and financing of new enterprises. 
SMMEs can apply on www.gep.co.za or visit one of our regional offices. 
Enquiries on previous applications must be sent to enquiries@gep.co.za.​