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The Department of Trade and Industry (the dti) and the United Nations Development Programme (UNDP) yesterday signed a Memorandum of Understanding (MOU) in Pretoria agreeing to cooperate in broadening participation in the following specific areas:  
 
1.    The Promotion of incubation and establishment of business incubators;
2.    Women Economic Empowerment promoting inclusive financing for women;
3.    Supplier Development Programme focusing on the promotion and cooperatives;
4.    Special Economic Zones; and
5.    Economic infrastructure
 
the dti’s Deputy Director-General, Sipho Zikode says the vast experience and knowledge that the UNDP will bring in these areas will significantly assist South Africa.  Zikode added that South Africa has been in the process of strengthening its Small Medium Micro Enterprise (SMME) sector.
 
“We have a world class incubation system that still needs to be improved. It delights me knowing that we will be drawing guidance and expertise from the experience of the UNDP’s global network of offices and experts to provide support in the areas of cooperation covered in this MOU,” he said
 
The Minister of Trade and Industry, Dr Rob Davies says government is in the throes of  implementing various interventions to ensure that small enterprises and big businesses have a symbiotic relationship that will boost the development and growth of the country’s SMME sector.
 
In September this year, Minister Davies launched the Incubation Support Programme. The Programme will develop enterprises that will absorb and upgrade the vast unskilled labour force, develop new technologies and strengthen the country’s economy. This initiative is intended to encourage private sector partnerships with government to foster collaboration between small and big businesses; whereby big businesses assist SMMEs with skills and technology transfer; supplier development and creating marketing opportunities for SMMEs.
                               
Meanwhile, the UNDP Resident Representative and United Nations Resident Coordinator, Dr. Agostinho Zacarias thanked the dti for its perseverance and persistence in pursuit of the MOU.
 
“Hopefully sooner rather than later we will begin to reap the rewards of this union. Both the dti and the UNDP would need to upscale existent incubators in the country and we would need also to formulate a comprehensive strategy to guarantee the success of this initiative,” he said.
 
the dti and the UNDP shall on a regular basis keep each other informed of and consult on matters of common interest, which in their opinion will lead to a mutual collaboration.