ANGLO AMERICAN ZEMELE FUND
Anglo American Zimele Fund is an enterprise development initiative that was founded 28 years ago, to help/support aspirant entrepreneurs from previously disadvantaged communities in South Africa with funding and support to build their own successful small to medium enterprises. Zimele has 6 funds namely; Supply chain fund, Community fund, Green fund, Sebenza fund, Anglo American Sefa fund and Godisa fund. However, in the Western Cape, the focus is on the Sebenza fund which started in 2013.
The Anglo Sebenza fund
Anglo Zimele is the enterprise development division of Anglo American PLC, which has been established to aid the sustainability of businesses with the aim of creating new and sustainable jobs. The Anglo Zimele Sebenza fund provides loan funding to new businesses (businesses that can prove sustainability and the ability to repay the loan); existing businesses for expansion purposes and businesses that have been awarded tenders/contracts for a period of 12 months or longer.
The Sebenza fund can be utilised at financing the following:
- Machinery and equipment.
- Commercial vehicles.
- Stock and raw materials.
- Working capital.
- The applicant has to be a registered entity i.e. private company, close corporation or co-operative ( Individuals, sole-proprietors, trusts or associations are not funded by Sebenza fund)
- The maximum repayment period is up to 3 years (36 months).
- The applicable interest rate of prime is less than 5%, with a minimum interest rate of 6%.
- (Interest rate is subject to change)
- One of the key objectives of the Sebenza fund is the creation of new sustainable jobs. (Sustainable job being for a period of 12 months or longer).
- The loan amount is aligned to the number of jobs to be created, for example, for every R50, 000 lent; the business needs to create 1 new job.
- A contribution by the owner/s is required in the form of cash and/or assets and additional collateral/security may be requested in need.
- All applicants must be fully compliant in terms of income tax, UIF/PAYE, COIDA, etc.
- In order for Anglo Zimele to determine whether your business model is aligned to their funding criteria, a preliminary assessment is conducted first. The following documents are to be forwarded via email:
- Copy of the business plan/proposal and a 12-month cash flow projection;
- A preliminary assessment form has to be completed (This form can be requested via email from the below-mentioned email addresses).
- Upon completion of the preliminary assessment, feedback will be provided as to whether your business plan/proposal can be considered for a funding application or not and advise on a way forward.
|Location||Physical address||Contact number|
|Cape Town||Shop 06a, Ground Floor, The Waldorf Arcade, St George’s Mall, Cape Town, 8001||Tel: 021 422 1511 / 060 972 0503|
Alternatively, you can visit: http://www.angloamerican.co.za/