The CEO Initiative, which was established to help set SA on a growth course, has made major inroads in setting up an SME Fund and is in the process of accrediting fund managers. The project was started by former finance minister Pravin Gordhan to retain the country’s sovereign credit ratings. One of the commitments that came out of it was the founding of a R1.5bn SME Fund. Business Unity SA (Busa) CEO Tanya Cohen said progress had been made in setting up the SME Fund. The CEO Initiative was dealing with the accreditation of fund managers and was almost ready to start investing. The downgrade committee, one of five workstreams under the CEO Initiative, was also making headway, said Cohen. Martin Kingston, a member of the CEO Initiative, said: "We have got the fund off the ground and identified opportunities in the pipeline. There is a willingness and ability on the part of the CEO Initiative. We’re carrying on and we’re engaging the minister [Malusi Gigaba] and other social partners....
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