Department of Small Business Development & Small Enterprise Development Finance Agency Q3 2024/25 Performance; with Deputy Minister

The Committee convened to discuss the third quarter performance report of the Small Enterprise Development Agency (SEDA) and the Small Enterprise Finance Agency (SEFA), now operating under a merged entity as the Small Enterprise Development and Finance Agency (SEDFA). Discussions revolved around the agency’s financial performance, underperformance against certain targets, and the challenges in approving and disbursing loans to small enterprises. Key issues raised included inefficiencies in turnaround times, the impact of funding delays on businesses, and strategies to improve future performance. During the deliberations, the Deputy Minister and officials acknowledged challenges such as the need for increased funding, delays in approvals, and administrative inefficiencies. However, they also highlighted key achievements, including surpassing certain disbursement targets and ongoing efforts to streamline processes. The Committee expressed concerns regarding underperformance in critical areas like township business support, turnaround times for loan processing, and job creation sustainability. Members stressed the importance of ensuring that allocated funds translated into tangible economic benefits for small enterprises and cooperatives. They expressed the need for a structured and transparent approach to address inefficiencies and underperformance while ensuring compliance with parliamentary oversight responsibilities. The Deputy Minister assured Members that corrective measures were in place to enhance financial management, streamline approval processes, and improve overall service delivery.