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SMES’ ACCESS TO FINANCE IN SOUTH AFRICA

SMES ACCESS TO FINANCE INSOUTH AFRICA A SUPPLY-SIDE REGULATORY REVIEW byThe Task Group of the Policy Board for Financial Services andRegulationHans Falkena (Chairman)Iraj AbedianMagali von BlottnitzCas CoovadiaGabriel DavelJoe MadungandabaElias MasilelaStuart ReesInternal report: not for publicationiiTABLE OF CONTENTSEXECUTIVE SUMMARY

CHAPTER 5: SME. S ’ ACCESS TO THE CAPITAL MARKETS 151 1 Introduction 151 2 Concept of securitised lending 152 3 Possible securitisation structure for SME. S . South Africa 158 4 Recent legislative changes facilitating CLO finance toSME . S. 163 5 Summary and conclusion 166 CHAPTER 6: PUBLIC-SECTOR INCENTIVES TO SUPPORTSME . S. 168 1 ...

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Transcription of SMES’ ACCESS TO FINANCE IN SOUTH AFRICA

1 SMES ACCESS TO FINANCE INSOUTH AFRICA A SUPPLY-SIDE REGULATORY REVIEW byThe Task Group of the Policy Board for Financial Services andRegulationHans Falkena (Chairman)Iraj AbedianMagali von BlottnitzCas CoovadiaGabriel DavelJoe MadungandabaElias MasilelaStuart ReesInternal report: not for publicationiiTABLE OF CONTENTSEXECUTIVE SUMMARY

2 11 Analyses and findings

3 12 Recommendations

4 43 Conclusion

5 11 FOREWORD

6 13 LIST OF ACRONYMS AND ABBREVIATIONS 20 CHAPTER 1: THE RELATIVE IMPORTANCE OF SMES IN THE 22 SOUTH AFRICAN ECONOMY.

7 AN ANALYSIS OF ISSUES ANDQUANTIFICATION OF MAGNITUDES1 Introduction

8 222 Definitions and scope of analysis 243 Promoting SMES.

9 Macro and micro-institutional issues


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