R165m To Boost Black Business

R165m To Boost Black Business

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 The launch of the R165 million Godisa Fund will nurture black owned suppliers and also help in addressing youth unemployment, says Public Enterprises Minister Malusi Gigaba.

The fund is a collaboration between Anglo American’s enterprise development arm Zimele, Transnet and the Small Enterprise Finance Agency (SEFA).

Each of the three entities has contributed R55 million towards the fund.

Godisa, which in Setswana means to nurture or grow, will offer loans and capital for the development of black-owned Transnet suppliers in the manufacturing and service sectors, said Transnet group chief executive Brian Molefe.

Applications to the fund will need to take the form of an investment proposal accompanied by a formal business plan. Once evaluated potential recipients will have to present their business case to a committee consisting of the fund manager, among others.

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