Financing Growth: The Critical Role of Business Loans in South Africa's Economic Development

[InfoWire] Small and medium-sized enterprises (SMEs) are the backbone of Africa's private sector, accounting for over 90% of businesses and about 60% of employment across the continent. In South Africa, SMEs contribute approximately 34% to GDP and employ more than 60% of the workforce, making their success vital to national development. Yet, limited access to funding remains a significant barrier to growth and sustainability.