The government entity, under the Department of Economic Development, was established in 2005 to provide business loans to SMMEs focusing on informal businesses that need a kick start.
Top management at GEP appeared before the standing committee on public accounts at the Gauteng Legislature on Thursday, regarding the institution’s finances.
Acting Chief Executive Officer Leah Manenzhe says the agency aims to assist informal traders with loans.
However, she says while more than 40, 000 people have benefited from the agency, it has a challenge in recovering loans which makes it difficult to assist more SMMEs who are in need of funding.
“For as long as they don’t give us back the money, we are unable to help as many people as we would want to.
Hence we have not given up. Once we have written off, we are continuing to seek those people we are blacklisting and we will continue to look for those guys because we need the money to help other guys.”
