Midrand: The importance of Micro, Small and Medium Enterprises (MSMEs) and cooperatives’ development in advancing South Africa’s broader economic goals will come into focus at the National Presidential MSME and Cooperatives Awards on Friday. President Cyril Ramaphosa is expected to address the awards ceremony at Gallagher Convention Centre in Midrand.

According to South African Government News Agency, this premier event, hosted by the Department of Small Business Development, is dedicated to recognising outstanding MSMEs and cooperatives. The awards aim to reward the achievements of South Africa’s top-performing MSMEs, cooperatives, and ecosystem enablers who drive growth and transformation across the nation.

“This ceremony will honour businesses that embody innovation, commitment to local development, and entrepreneurial spirit,” the Presidency said in a statement. The selected finalists have advanced through rigorous district and provincial pitches and demonstrated their excellence and resilience across v
arious categories.

This year’s finalists are an eclectic group of companies that span various key sectors of the economy in both formal and informal businesses. These small businesses have also shown creativity, ingenuity, and resilience in penetrating sectors that are normally hard to enter. Categories for this year’s MSME Awards include, but are not limited to, Youth-Led MSME of the Year, Township SMME of the Year, Women-led SMME of the Year, MSMEs Owned by Persons with Disabilities of the Year, Cooperative of the Year, Best Employing Cooperative of the Year, Best Performing Rural Community-Based Initiative of the Year, and Best Performing Urban (Township) Community-Based Initiative of the Year.

“Small Businesses are a strategic tool for economic transformation, inclusive economic growth, and job creation in South Africa. This celebration is a testament to the remarkable achievements of MSMEs and cooperatives, which have shown resilience and adaptability, particularly in challenging economic conditions,”
the Presidency added.

The 2024 National Presidential MSME and Cooperatives Awards ceremony takes place during Global Entrepreneurship Week, an initiative celebrated in over 200 countries to inspire and empower entrepreneurs around the world. Global Entrepreneurship Week highlights innovative solutions and resilient businesses that shape economies and enrich societies, resonating with the core values of the National Presidential MSME and Cooperatives Awards.