FNB Launches Race-Based SME Assistance Programme

FNB LAUNCHES NEW ENABLEMENT PROGRAMME TO FAST-TRACK SME DIGITAL TRANSFORMATION – For Black Owned SME’s Only

When one considers the history of South Africa and the painful past that we have emerged from, it is always a concern when current policies and initiatives become fixated on racial profiling and particularly when there is such a great need for more cohesion and unity of purpose in our society.

This was never more starkly apparent than in a recent press release from one of South Africa’s major banking groups outlining, what is on the surface, a very well put together support programme for SME’s. The SME market is certainly one that deserves far more support and development initiatives, and at Business Tech Africa, we are always more than grateful for any corporate who is dedicating efforts, assistance or support to this vital economic growing sector.

Wonderful Solution to Major SME Problem – With a Reservation

As outlined in the FNB press release ” In an economy where customers expect faster service, real-time updates, and digital convenience, many South African SMEs are under pressure to keep pace. Manual processes, complex paperwork, and outdated systems often slow businesses down, not because of a lack of ambition or capability, but because the right digital tools and support are not always easy to access.”

The programme they have designed, provides for an 18-month, hands-on journey designed to help SMEs modernise their operations and compete with greater confidence and agility. that will assist in various aspects such as Process Optimisation, Digital Tool Adoption, and Digital Market Enablement, equipping selected SMEs to vastly improve their business operations. Each SME selected for the programme is to be paired with a dedicated mentor or specialist who provides ongoing guidance to help businesses adopt new tools, navigate change, and embed digital processes into day-to-day operations.

A fantastic initiative for sure, until you read the criteria for entry.

Entry Criteria Base Questioned

Who Qualifies for the Programme?

The programme is however only open to majority black-owned SMEs (51% or more) and who have an annual revenue between R2 million and R10 million, operating in the following sectors:

Green Economy & Clean Tech
Processing & Manufacturing
Logistics & Warehousing
Infrastructure & Circular Value Chains
Construction Supply & Engineering Services

Businesses must also be financially stable, compliant, and committed to the full 18-month journey.

The Questions Business Tech Africa Then posed to FNB are the Following:

Why is there an earnings threshold (between R2 million -10 million) on the business revenue – surely all SME’s & startups would benefit from this type of support?
Can FNB please provide the reason for having a very specific race based requirement (Black owned)- and a fairly high one at that (51%), as an entry requirement into this support system? Is this linked with achieving FNB’s own enterprise development points? Surely there are much more credible criteria to apply than that of race? Many SMES owned by other race groups including other disadvantaged groups would also surely benefit?
And will FNB be providing the criteria for race qualification and do applicants need to be South African citizens or do they simply need to be black to qualify?

These questions were posed to FNB almost a month ago with no response received so far despite a follow-up request for comment.

FNB’s Commitment to SME Growth – Is it Simply Window Dressing?

It is always a conundrum for publishing houses to raise this type of questioning, with the potential backlash and distancing from a major banking group a real potential outcome. But in all fairness it is also an exceptionally important discussion to have in the country and one that should not be ignored.

For way too long various corporate groups as well as media platforms, have hid from the realities that face everyday citizens and create divisions rather than building up the country. If Corporate entities are being forced to bow to government pressure to uphold race based policies then they are complicit and are simply fulfilling a tick-box requirement rather than effecting broader change and growth in the country.

Securing sufficient points for enterprise development points or BEEE points then becomes all consuming goal instead of utilising wonderful initiatives to truly benefit all and particularly those who are truly from a disadvantaged background rather than simply having a selected skin colour.

Departure from Pure Race Based Policy Critical For Future Cohesion

A well to do black entrepreneur, who has had every opportunity life can provide, from a high-end private education to financial support and access to a business network, can now receive a further had-up simply because they are aligned to a skin hue and not one who really could benefit greatly to build a business they have fought to establish despite life odds. This is an untenable situation that should never exist.

The programme, as the press release states, offers a meaningful opportunity to modernise outdated processes, adopt relevant digital tools, and build the capability needed to serve increasingly digital-savvy customers. This is no small hand-up and in our opinion, should have a more meaningful selection criteria, opening up participation to all who could benefit most.

There is an urgent need to build cohesion and businesses should also be playing a part in this process.

However we still want SME’s to benefit from the programme and for those who do qualify, applications are open and will close Sunday, 17 May 2026. Business Tech Africa does not wish to stop this initiative, we would simply love to see it benefit those who need it most.

Click here to apply: https://forms.office.com/r/1yhbAFXEGG