Joseph Kente established Vukani Musa Construction with the help of the Zimele Hub in Kathu. Here he is at a school his company built.
WHAT IS ZIMELE
Zimele is Anglo American’s enterprise development initiative, and was established in 1989 to provide funding and support to previously disadvantaged South Africans. The aim of the initiative is to create and develop commercially viable and sustainable small and medium enterprises (SMEs). As Anglo American, we have already surpassed our goal of creating and sustaining 25,000 jobs in the small and medium enterprise market by 2015.
Zimele channels its capital through its four funds:
THE ANGLO AMERICAN SEFA MINING FUND
The Anglo American Sefa Mining Fund is a joint initiative between our South African operations and SEFA formerly known as Khula Enterprise Finance Limited, a government owned entity that promotes SME development. The Fund helps grow emerging black empowered mining companies into commercially bankable enterprises.
The Fund provides equity and loan finance of up to R40 million per project. It also provides technical support during high-risk exploration and pre-feasibility studies.
THE SUPPLY CHAIN FUND
The Supply Chain Fund helps our procurement departments to identify appropriate black-empowered SMEs and supports them by linking them with the appropriate commodity teams within the Group. The Fund provides equity and loan finance of up to R5 million per project. It also supplies hands-on support, business guidance and skills transfer.
THE COMMUNITY FUND
The Community Fund is managed through a network of small business hubs that are based both within the communities where we operate and labour-sending areas around the country. It provides funding, training and skills development for potential entrepreneurs and business owners. The Fund provides loan finance of up to R2 million per project, at preferential interest rates, to entrepreneurs and SMEs. It has changed the lives of many of its beneficiaries and their families through its network of small business hubs, which ensures that funding and training is accessible within communities.
THE GREEN FUND
The Green Fund targets investment opportunities that mitigate carbon, reduce energy and water consumption, and improve waste and emissions management. The Fund provides funding of up to R10 million per project or business.
"Sebenza" meaning "work" in isiZulu is a fitting name for the Fund which aims to provide new and sustainable employment throughout South Africa. The Sebenza Fund is modelled on the successes of Zimele’s other funds and provides a community-based hub system which offers financial and non-financial support to SMEs.
The Sebenza Fund provides both equity and/or loan finance at preferential interests rates to entrepreneurs and SMEs that are economically viable and can create new long-term sustainable jobs.
For more information about Zimele, Click here to download the company brochure and a brochure detailing How to Apply’ for funding through Zimele.
MAP OF SMALL BUSINESS HUBS