President Cyril Ramaphosa has warned that any failure by organs of state to pay small to medium enterprises SMEs within the 30 stipulated days will be viewed as financial misconduct.
Ramaphosa says the soon to be finalised Public Procurement Bill will ensure that organs of the state pay SMEs within the stipulated time. He has called on local and international investors to support the country’s SMEs, as the sector can be the real driver of economic growth.
Ramaphosa was speaking on the second and final day of the South Africa investment conference at the University of Johannesburg campus in Soweto.
The organs of state will be closely monitored on the compliance of the 30 day period and any non-compliance will be viewed as financial misconduct and will have to be dealt with accordingly.
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