Limpopo’s economy, which is valued at about R509bn, remains a key contributor to SA’s overall GDP. The province is largely driven by the mining sector (25%), personal services (24%) and the finance sector (14%) according to Stats SA’s Quarterly Labour Force Survey for the first quarter of 2024. However, the province also faces its own fair share of economic challenges, including an unemployment rate of 26.1%, while the expanded rate stands at 41.7%*.
Given this, SMMEs play a pivotal role in both job creation and broadening the province’s economy. They not only provide employment to a significant portion of the workforce but also help reduce reliance on dominant industries, fostering innovation and resilience.
Beyond recognition and prizes, all finalists will gain exclusive access to Standard Bank’s Enterprise and Supplier Development (ESD) solutions aimed at helping them scale their businesses sustainably. Each category winner will receive a cash injection to support their business, while all finalists will be recognised for their achievements and receive valuable exposure. They will also get access to growth opportunities and attend master classes aimed at helping them scale their businesses.
“As the Limpopo Provincial Government, we recognise how local businesses continue to be the backbone of the South African economy, driving innovation, creating jobs and shaping a prosperous future for our province. The Limpopo Business Awards celebrate the visionaries who turn challenges into opportunities and ideas into success,” says Gavin Pratt, department head of the Limpopo Provincial Treasury.
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