A R500m Spaza Shop Support Fund has been launched with the aim of supporting South African-owned spaza shops and convenience stores through both financial and non-financial assistance.

Officially launched by the Minister of Trade, Industry and Competition, Parks Tau, and the Minister of Small Business Development, Stella Ndabeni-Abrahams, the initiative is a joint effort of the National Empowerment Fund (NEF) and the Small Enterprise Development Finance Agency (SEDA).

The initiative’s support packages include funding of up to R300 000 per shop through a combination of grants and low interest loans and the allocation of funding specifically for purchases, infrastructure, improvements, and business development tools.

Gauteng MEC for Finance and Economic Development, Lebogang Maile, says that 60% of the procurement budget, amounting to +R30bn annually, will be directed to locally based businesses.

The Spaza Shop Support Fund was first announced by President Cyril Ramaphosa in November 2024.

South African spaza shop and township convenience store owners interested in applying for support can visit www.spazashopfund.co.za or call 011 305 8080.