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Speaker 1: Seven o two Live from the By Local Summit and Expo,

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Speaker 1: brought to you by probably South African loved year made here.

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Speaker 1: Oh I'm now joined by Nalaizzani Mossuman, who's the head

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Speaker 1: of Enterprise and Supply Development for Business and Commercial Banking

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Speaker 1: and Standard Bank. Nalaizani, thank you so much for joining us.

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Speaker 2: Good morning, Good morning Kevin, thank you for having me.

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Speaker 1: This is not the first time that you, as Standard Bank,

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Speaker 1: added your weight behind the proudly South African By Local

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Speaker 1: Summit and Expo. Why have you decided to continue to

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Speaker 1: support this initiative?

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Speaker 2: Yes, so, we were a sponsor last year but not

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Speaker 2: a headline sponsor this year. When the opportunity came up

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Speaker 2: for us to be a headline sponsor, we decided why

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Speaker 2: not take it because we see the opportunity that sits

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Speaker 2: within this platform. At Standard Bank, we support businesses to start,

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Speaker 2: manage and grow and we know that market access for

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Speaker 2: small businesses is critical and the ability to bring SMEs

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Speaker 2: into a room with corporates with potential procurement opportunities for

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Speaker 2: some of those semes. It's really true to what we

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Speaker 2: try to do in terms of really partnering with our

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Speaker 2: clients and with sms in general for their sustainability and

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Speaker 2: for their growth.

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Speaker 1: Yeah, and speaking of SMEs, I mean they're often described

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Speaker 1: as the backbone of our economy. What specific challenges do

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Speaker 1: they face right now and how is Standard Bank helping

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Speaker 1: them overcome those?

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Speaker 2: Yeah, sames are the backbone of the economy. Small and

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Speaker 2: medium enterprises create jobs and in fact most of the

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Speaker 2: jobs sit within this market segment. Challenges range from market

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Speaker 2: access everyone is trying to sell something to someone and

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Speaker 2: as well as access to finance in some instances where

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Speaker 2: market access already exists. And as Standard Bank, we have

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Speaker 2: a range of business banking solutions to support sme. So

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Speaker 2: we have financial offerings looking at transactional accounts, merchant devices,

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Speaker 2: blending solutions. But we also provide non financial support, particularly

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Speaker 2: through one of our programs, which is our Enterprise and

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Speaker 2: Supply Development Program. Within that program, we support with access

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Speaker 2: to business developments, financial management, marketing management, and we help

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Speaker 2: unlock funding for some SMEs that might not be able

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Speaker 2: to get access to funding through traditional banking rails.

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Speaker 1: Yeah. How critical is localization and procurement from South African

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Speaker 1: suppliers in strengthening the domestic economy because sometimes we think

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Speaker 1: it just ends with us supporting these local businesses, but

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Speaker 1: there's a much bigger impact.

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Speaker 2: It's everything. When you support a local business, you are

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Speaker 2: supporting a family. Typically, local businesses are the businesses that

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Speaker 2: create jobs. And when you start looking at all of

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Speaker 2: the challenges. I was listening to your listeners and just

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Speaker 2: what's happening in the world. We do need to be

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Speaker 2: able to source goods within this country, and we do

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Speaker 2: need to have reliable businesses that are able to provide reliable,

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Speaker 2: quality services or goods within this country. So strengthening local businesses,

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Speaker 2: providing them with the right support mechanisms, providing them with

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Speaker 2: access to markets outside South Africa as well as critical

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Speaker 2: because then if THEI starts flowing in and we know

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Speaker 2: what that means in terms of a country's economy. So

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Speaker 2: when you start looking at the entire ecosystem and how

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Speaker 2: small businesses and localization supports economic development, you do have

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Speaker 2: to be deliberate and intentional in supporting local businesses.

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Speaker 1: Thank you so much for chatting to us.

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Speaker 2: Thank you so much, Kim.

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Speaker 1: It's a minute before