10 Things You Should Know About the R500 Million Spaza Shop Support Fund
Earlier today, Ministers Stella Ndabeni and Parks Tau launched the much-anticipated R500 million Spaza Shop Support Fund at Eyethu Shopping Centre in Soweto, marking a bold step in the government’s mission to uplift township and rural economies. Here’s a quick breakdown of what you need to know about this groundbreaking initiative:
1. It’s Worth Half a Billion Rand
The fund totals R500 million, a significant investment aimed at boosting spaza shops and small community convenience stores across South Africa.
2. It’s Backed by the President
The fund was announced by President Cyril Ramaphosa in November 2024 as part of a broader effort to stimulate economic activity in underserved communities.
3. Jointly Managed by Two Key Agencies
The fund is jointly administered by the National Empowerment Fund (NEF) and the Small Enterprise Development and Finance Agency (SEFDA)—two agencies with a track record of supporting small businesses.
4. The Launch Took Place in Soweto
The official launch at Eyethu Shopping Centre in Soweto symbolizes the fund’s grassroots focus and connection to township economies.
5. Spaza Shops are the Heart of the Township Economy
According to Minister Tau, spaza shops play a critical role in townships, offering essential services where larger retailers often don’t operate.
6. Primarily for South Africans
Minister Ndabeni clarified that the fund is primarily meant for South Africans. However, individuals naturalised before 1994 are also eligible to apply.
7. It’s More Than Just Cash Support
Beyond individual funding, the initiative also seeks to connect spaza shops with local manufacturers and wholesalers—encouraging bulk purchasing and supporting local production.
8. Aims to Build a Local Supply Chain
By linking retailers directly with suppliers, the fund helps strengthen the township supply chain, promoting sustainability and economic independence.
9. It’s Open for Applications Now
Eligible applicants can apply immediately to tap into this opportunity to grow or sustain their businesses.
Apply here: https://shorturl.at/E1IOn
10. A Step Toward Township Economic Revitalisation
The fund is not a one-time handout—it’s part of a long-term strategy to revitalise township and rural economies, foster entrepreneurship, and reduce reliance on big chain stores.
The R500 million Spaza Shop Support Fund represents hope, empowerment, and a tangible investment in local economies. If you run a spaza shop or know someone who does, this is the moment to act.
