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SMME NEWS - MAR 2018 ISSUE

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SMME NEWS March 2018 2 UKZN hosts Tech Global Start-up Weekend Women Oyewo Adetola Elizabeth The National Treasury’s Deputy Director- General Dr Mampho Modise , unpacked ssues on South Africa’s current National udget by former Finance Malusi igiba at UKZN, hosted by the School f Accounting, Economics and Finance. t the Graduate School of business & eadership(GSB&L), Westville campus, r Modise unpack restoring economic onfidence and stabilizing the Public inances. Through the angle of the burning ssue of the VAT hike, tax raise and ebated issue of free higher education . e key highlight was how the National reasury achieve a balance and sustainable udget. By questions as how to stabilize ebt? Do we continue to borrow at an nflated cost? Do we introduce free ducation? If it were up to us, we would ave implemented everything that the resident spoke about in the SONA but we ave to look at sustainability because for very cut we make there is a department Oyewo Adetola Elizabeth in technology “Women and innovation in technology is part of conservation way women propel themselves. Technology is a platform for Small and Medium Enterprise start up” these were the words of eThekwini Deputy Mayor, Cllr Fazwia Peer during the Tech Global Start-up Weekend Women at the University of Kwazulu- Natal, Westville campus on the weekend of 16- 19 February 2018. This initiative was aimed at uplifting women in tech business. According to eThekwini Deputy Mayor more women participating in the technology sector will help to change the world for National Treasury’s Deputy Director-General unpacks Budget speech in UKZN that suffers,” Modise said. While Modise’s presentation was clear on how the recently tabled budget maps a path towards faster economic growth, the audience was less convinced that the budget was fair to the poor and the middle class especially where VAT, income tax and the fuel levy were concerned and the critical issue of corruption in government and wasteful expenditure , A question was also raised about whether the Treasury was against the realisation of free education of which Modise unequivocally responded that as a NSFAS beneficiary who understands the challenges of being on NSFSA’s she is a champion of free education. However, she stressed that free education should not only be about funding this year’s first years but should be about funding every university student and that means being realistic about funding and sustainability issues. Another key point of the discussion was the fact that ratings agency Moody’s is coming to South Africa in a few days and the hope is that the 2018 budget will be good enough for the country to avoid being downgraded to junk status. a better good. As part of the day’s proceedings there was a pitching process which was facilitated by Alul Padilkar of Bizfarm. There were 17 pitches by female tech entrepreneurs, ranging from apps on cosmetics, waste management, snake catcher, fashion, atmospheric water conservation, clothing app and farming app. The team that emerged as a winner will be jetting off to Paris. Farnaaz Shaikjee and Angela with their app to offer cosmetic were the lucky winners. SMME News Team Tinky Ogle: Publisher - tinky@smmenews. co.za Mandisa Magadla Research & Admin Intern Fanele Mpanza Marketing Manager Marvellous Zondi: Journalist & Content Manager Kgosi Kgalegi Business Development Bongani Dlamini Media Production & IT Jabulani Khumalo Sales & Distribution Manager Siyabonga Sikhakhane Graphics and Subediting Mandy Zithutha Public Relations Intern Invotech calls for businesses to join the incubation programme Oyewo Adetola Elizabeth InvoTech is an Innovation and Technology Business Incubator that is supported by the Durban University of Technology (DUT) and funded by Small Enterprise Development Agency (SEDA). InvoTech convert innovations and new technologies into sustainable commercially viable businesses and accelerate the development of technologically based start-up enterprises. Invotech breakfast meeting is monthly event which provides a platform for Invotech clients to network with various stakeholders. On 22 February 2018 at the Durban ICC, Invotech hosted a business breakfast and called for businesses to join the incubation programme. During this event Ms. Dlonne Makuwaza, gave an overview of her business journey as a BBE firm, while Ms Nozipho Zulu, invotech incubate gave an elevator pitch. Public is urged to keep track of InvoTech initiatives through their communication channels in order to get more information and be capacitated on various topics. Contact us: 031 307 1988 Send us your opinions or news: news@smmenews. co.za Advertise with us: sales@smmenews. co.za 5th floor Smart Xchange building, 5 Walnut Road, Durban, 4001 M : +2771 710 7943 T:+2731 307 1988 www.smmenews.co.za SMME NEWSPAPER subscribes to the South African Press Code that prescribes news that is truthful, accurate, fair and balanced. If we don’t live up to the Code please contact the Press Ombudsman at 011 484 3612/8, fax: 011 4843619

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