The South African government is certainly not the first to use micro-credit as an avenue with which to tackle development issues, as many governments have prioritized the development of the sector. It has been established the world over that growth in the small and micro-enterprise sector will ultimately result in employment creation and therefore lead to poverty alleviation to a certain degree.This is the reason why Government has gone out of its way to create and support such entities. A perfect example in this regard is the Mpumalanga Economic Growth Agency (MEGA).
MEGA was formed on the 1st of April 2010 by merging the old Mpumalanga Economic Growth Agency, Mpumalanga Housing Finance Company and Mpumalanga Agriculture Development Corporation.The mandate of this body is to provide funding in respect of property development including the granting of housing loans as well as in respect of approved enterprise and agricultural development focusing primarily on previously disadvantaged individuals within the province. MEGA also focuses on project management, development and management of immovable property.This body has also been mandated to promote foreign trade and investment so as to ensure enterprise and agricultural development that will significantly contribute to economic growth and development within the province with specific emphasis on BEE.
Mpumalanga Economic Growth Agency (MEGA) can be contacted on 0137522440.