SA SME Fund invests in A2Pay to finance spaza shops

On Tuesday, small-business investment house, the SA SME Fund, said it has invested R25m in A2Pay SA, a fintech fund manager that focuses on growth and trade financing for spaza shops.fund, which was born out of a partnership between the government and local CEOs aimed at stimulating the economy and creating jobs, said it will provide finance for 10,000 spaza shops across SA, and create more than 40,000 jobs through its investment in A2Pay over the next 10 years.

The SA SME Fund’s CEO Ketso Gordhan, speaking at the launch event at Sisters Tuck Shop, a spaza shop using the A2Pay system in KwaMashu, Durban, said, “The SA SME Fund investment leverages the initial funding of A2Pay by the government’s Jobs Fund, which seeks to spur innovation and investment in activities that directly contribute to sustainable job creation and growing small businesses.

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