[South Africa] KwaZulu-Natal Economic Development Department launches bulk buying programme targeting SMEs
South Africa’s KwaZulu-Natal Economic Development, Tourism and Environmental Affairs (EDTEA) Department has unveiled its much-anticipated bulk buying and warehousing programme aimed at dramatically benefitting emerging businesses in the retail sector.
The bulk buying initiative is EDTEA’s flagship programme which is expected to drastically reduce the cost of sales for emerging retailers to enable them to maximise profits.
Through the programme, warehouses will be built throughout the province to ensure that small traders do not travel long distances to purchase goods, and that they get them at a lower cost to enable them to expend their market share.
The launch follows several bulk buying roadshows in the eThekwini Metro, Amajuba, UMgungundlovu and King Cetshwayo Districts.
EDTEA MEC Sihle Zikalala and mayors from various municipalities around the province will officially open a state-of-the-art warehouse in the Mandeni Municipality.
Zikalala said the bulk buying and warehousing programme marks a significant achievement by the KZN provincial government and the people of KwaZulu-Natal at large.
“Over the past few weeks, we have been on various roadshows educating our communities and KZN traders about this ground-breaking initiative which we will ultimately launch on Tuesday. It marks a new chapter in our ongoing efforts to support small enterprise development which we see as key in the fight against poverty, unemployment and inequality," Zikalala said.
He added that the provincial government viewed the bulk buying programme as a crucial pillar of economic transformation, and an important step in revitalising township and rural economies.