R500m Fund to finance SMEs and create 8000 jobs

Anglo American’s enterprise development arm, Zimele, has teamed up with the Development Bank of South Africa (DBSA) to launch a new R500m fund that promises to create 8000 new jobs via enterprise development.

The Sebenza Fund was unveiled yesterday at the Enterprise Development Conference underway at Gallagher Estates in Midrand, Johannesburg.

Anglo said the Sebenza Fund will follow a similar model to its Community Fund and will create 30 new business hubs across South Africa. As a result, Zimele will then have close to 60 hubs nationwide, providing entrepreneurs with access to affordable finance and ongoing business support and mentorship.

The Sebenza Fund will provide loans to businesses, start-up and growing entrepreneurs, at a preferential annual interest rate of 6%. Zimele will undertake surety and ownership of assets until the loan is repaid. “In line with the Zimele model, on-going mentorship will be available to all beneficiary companies.”

Anglo American SA executive director, Khanyisile Kweyama, said the launch of the Sebenza Fund was an “extremely proud moment for our company”

The Fund has the potential to assist us considerably in advancing these (Zimele’s) aims. We are confident that the Fund will add substantive value to Zimele’s already successful model, and make a real difference in improving socio-economic conditions in South Africa, by creating sustainable employment opportunities.”

Anglo added that the fund is designed to create meaningful and sustainable employment in poverty nodes and areas with high unemployment throughout South Africa.

“Sebenza, which means ‘to work’ in isiZulu, expects to create 8,000 new jobs over the next three years, building upon Zimele’s existing commitment to create and sustain 25,000 jobs by 2015,” said Anglo.

The company added that Zimele has already achieved demonstrable success in collaborating with the South African government, through the Anglo American Sefa Mining Fund (previously Khula Enterprise Finance Ltd).  This Fund, which was set up more than nine years ago, also as a public private partnership, manages funds of R200 million and is currently going for a third round of recapitalisation.

Commenting about the Enterprise Development where the fund was launched Kweyama said “The timing of this conference could not be more appropriate, considering the focus on enterprise development as an effective job creation mechanism for South Africa, as well as the revision of the Codes of Good Practice. A central component of this ethos is the intention to alleviate poverty by providing employment opportunities and enhancing skills development”.

news@ujuh.co.za

  • How can my cleaning business benefit fron sebenza funds for a startup loan indeed thank you…

    1. @Andrew John Dietrich,

      Get hold of the Development bank of SA per phone on 10118 or Zimele from Anglo American and you will get your answer.

  • I need a loan to start a small business, how can anglo american sebenza assist me.

  • I need a loan to start a small business. How can anglo american sebenza fund assist me.

  • Dear Sir/ madam

    I need your help I already have a business but I need a loan so that my business can sustain
    I’m thinking of closing but I have employers and students so its hard for me to take a decision
    coz its gonna affect a lot of people.

  • […] and training. This has come to complement a string of other specialised joint venture funds like the Anglo American Khula Mining Fund which has disbursed more than […]

  • i am a young entrepeneur who wants to start a business and help reduce unemployment by creating long term job oppertunities so will you be able to help me i am in desperate need

  • hi,

    i just want to know if you fund franchises and what is the interest for loan repayment ?

  • Does your fund assist SMME’s that are in possession of purchase orders and want to service those orders.

    Thank you
    Regards
    Sfiso

  • Good Day

    Where can I find your offices in Johannesburg. I want help with regards to Business plan and funding.

    Your quick respond will be highly appreciated.

    Thanks

  • Columbus Hlubi Ngcayiya

    My name is Columbus Hlubi Ngcayiya im and enterprenure i want grow big, i want to be in the mining industry supplying one of mine in South Africa, may you pls help me to start and to make my dream come true, all i want is funding and what must i supply, to create more job uplifting our economy, pls i need yur help

  • Columbus Hlubi Ngcayiya

    Columbus Hlubi Ngcayiya i want to see my self in mining supplying and create jobs to unimployement, all i need is funding to start the project, send me your nearest adress arround City of Jozi, pls help me i like mining is one of my dream busness, my contact details: 0732945137

  • I have orders that need to be serviced. I have tried contacting Kamogelo Bokalo as I have previously spoken to her before I was awarded the contract yer to no avail till this day. I would a preciate a call back or an email as sent to her.

  • Sir/Mad.

    I have a side (a land) where I want to start a Rooms to rent to low income tenants. Now the problem that I’m facing is capital to build those rooms as I’m not working. Know I’m just asking if I will qualify for loan and Zimele undertake surety till the loan is fully paid.

    Your respond will be highly appreciated.

    Thanks
    Phillip Tshabalala

  • hi I need help I would like to start up a bussiness car wash
    I have a family of 7 and im jobless.please will you help me.

  • My company has just started cable infrastructure installation work for one of big company in South Africa and how can Zimele assist me in buying most needed machinery .

  • Hi i would like what are the requirements that will be needed from me if i want a funding thank you

  • Thank you zimele for helping me grow my family business and in the process employ 30 permanent employees..I am still waiting for the mentor.I have yet to work with him/her.

  • I would like Zimele to assist me in my business

  • I am building contractor registered with NHBRC and CIDB, I would like to purchase fully serviced stands and sell building packages, i am also a professional auctioneer n estate agent, kindly advice me on how to get funding as SMME and HDI

  • Josephina Mmakgethang Mabeba

    I would like Zimele to assist to my business, I want to build a houses (low cost)for people who are not qualify to get RDP and Bond houses.they will pay the affordable price a month,according to my plan. and I want to great a job for our community. Please I will be happy if you can help me.

  • Write here… We are a women group who look forward as a women we start do sowing school uniform for children so now we are looking for funds to buy mertirial as well as a better place to work. Thanks all come from our woman

  • i would like Zimele to assist to my bisiness.i want to do truck stop which will contain lot of departments,like disel island,petrol island,motel,truck wash and lot more.i will like you to help me with fundings.

  • Hi my name is Dimpho im a women in construction and manufacturing business i manufacture aluminium products such as windows,vista folding doors,garage doors,shop fronts and bulkons
    i would like to get assistance from zimele funding.
    i have employed 4 men and 2 women in my business

  • Khanyisile Sithole

    Good Morning Sir/Madam

    My name is Khanyisile Sithole I am a Financial director of Inkazi trading (PTY) LTD and Impilo Enforce (PTY) LTD, both companies are currently applying for government tenders and was advised that a finance house need to take place as the tenders need cash up front and as a starting business that is still a challenge, so would like to apply for finance in your company and would like to have an understanding on how to go about applying for finance and the requirements needed?

    Your assistance will be highly appreciated.

    Regards,
    Khanyisile Sithole.

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