A R80 million Enterprise Fund was established by the Northern Cape province to assist Small, Medium, and Micro Enterprises (SMMEs) run by women, young people, and persons with disabilities.
According to SABC News, the fund was established by the Ministry of Youth, Women, and Persons with Disabilities, and it started taking applications on Saturday.
Northern Cape establishes a fund for underrepresented populations
The long-awaited opening of the Enterprise Fund for Youth, Women, and Persons with Disabilities was led by Premier Zamani Saul.
Two National First Division football teams from the province, Hungry Lions and Upington City FC, received R9 million at the event.
At the event, more than 500 business owners expressed optimism for assistance.
“We need this for our NPOs and youth to combat issues like drugs,” one person stated.
We appreciate Premier.
Another applauded the initiative’s success and said it was for a worthy cause, highlighting how it will enhance the lives of children and people with disabilities.
It was separated into three groups.
Three categories have been established for the grant.
Premier Saul emphasised that their goal is to help sponsored enterprises grow the economy.
He listed the allocation: R20 million for the Township and Rural Economy Grant, R30 million for the Enterprise Fund, and R30 million for unboxing Basha.
The financing for this comes to R80 million.
Saul emphasised the importance of reviving the province’s economy by adding life, vigour, and dynamism.
“Recipients of the fund will receive more than just financial aid; they will also have access to mentorship and business incubation programmes.”
MEC Venus Blennies expressed hope that the grant will help qualifying small enterprises regain their footing.
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“Our mission is to promote startups and existing enterprises owned by young people, women, and people with disabilities, supporting their growth.
In addition, we started the ‘unboxing Basha’ project, which aims to revive the township’s economy.
In order to secure the success of their businesses, our endeavour includes providing training to young individuals interested in container businesses like Spaza stores, salons, and bakeries,” Blennies added.
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