SA spent R36bn on small business loans, yet unemployment rose - COSATU's Parks

South Africa has spent R36 billion on small business loans since 2012, but the unemployment rate has climbed by 8%.

COSATU parliamentary coordinator Matthew Parks said: "Given the high levels of unemployment, slow levels of employment growth, the difficulty of many people accessing capital, it's not enough. Yes, not all of it can come from the state; the private banks have to provide the majority, but it's really not enough. We are not making an impact in the way we desperately need to."

Parks argued it was about giving small business owners the skills and development to help them run successful businesses.

"We've got to do much more. It's about capital but also giving support, training, planning for businesses, access to markets, and addressing issues like crime. We have to be much more bold and aggressive in how we put in measures for their success."

To listen to Parks in conversation with Zain Johnson on CapeTalk's Early Breakfast show, use the audio player below: