Industry Leaders Back New Funding Readiness Platform To Strengthen South Africa’s SMEs

South Africa will soon launch a national funding-readiness platform designed to unlock billions of rands in underutilised SME capital by addressing what industry leaders describe as the country’s real funding constraint: deal quality.

While small and medium enterprises contribute up to 40% of GDP and account for approximately 60% of employment, significant capital allocated to SME funding remains underutilised each year. According to Mike Anderson, founder and CEO of the National Small Business Chamber (NSBC Africa), the issue is not a shortage of capital.

“South Africa does not have a funding shortage - it has a readiness shortage. Too many SMEs approach lenders before they are properly prepared. Funders don’t have a capital problem - they have a deal-quality problem.”

The new platform, Access to Finance – Funding. Fast. Simple. - powered by NSBC Africa, is designed to shift the focus from application volume to funding readiness. Instead of encouraging more submissions, the initiative prepares SMEs before they approach lenders - structuring financials, clarifying credit positioning and aligning funding requests with appropriate capital providers.

Lee Naik, CEO at TransUnion Africa, says improving credit clarity is central to unlocking responsible growth: “Small, medium and micro enterprises (SMMEs) contribute up to 40% of South Africa’s GDP and account for around 60% of employment, yet too many remain excluded from funding, not because capital is unavailable, but because they are not funder ready. The real gap is credit visibility and financial clarity. At TransUnion, we see how the combination of education, transparency and smarter risk assessment can move an entrepreneur from ‘high risk’ to ‘highly investable’. When SMMEs are empowered to build credible credit profiles and lenders use richer data to recognise opportunities more accurately, we can responsibly expand access to finance, unlock jobs and drive inclusive economic growth. Sustainable SMME growth is a shared responsibility and one of the most powerful levers we have to strengthen South Africa’s economic future.”

TransUnion serves as the Official Credit Bureau and Intelligence Partner of Access to Finance, embedding trusted credit intelligence within the platform’s readiness framework.

By improving deal quality and reducing origination friction, the initiative aims to shorten funding decision timelines and activate capital already available within the financial system - without requiring new funding pools.

“If we improve readiness at scale, we don’t just unlock funding - we unlock jobs, growth and long-term economic stability,” Anderson adds.

Access to Finance is preparing for national launch. SMEs can now register to secure early access ahead of national launch at: www.accesstofinance.co.za

Funding. Fast. Simple.