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Sage creates $1m fund for Africa

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 23 Feb 2017
The funding will be split between two rounds of $500 000, with the second round ready for release in July.
The funding will be split between two rounds of $500 000, with the second round ready for release in July.

Sage has established a $1 million (R13 million) enterprise fund for Africa as a way to inspire innovation and change.

The fund from the Sage Foundation is open to non-profits in Africa with enterprising ideas that will help improve the lives of military veterans, young people or women and girls.

"Every day, across Africa, inspiring non-profit leaders, volunteers and their supporters are working tirelessly to make their communities better places to live. Sage Foundation's enterprise fund has been designed to support those organisations to generate further income, create new initiatives or enhance existing and proven activity," the group said in a statement.

The integrated accounting, payroll and HR, and payment systems provider says the $1 million will be split between two rounds of $500 000 ? with the second round ready for release in July. Applications for the first round are open until 5 April and grants between $5 000 and $35 000 will then be awarded to successful applicants.

All applications that fulfil the eligibility criteria will be considered, but the foundation is especially keen to support organisations that are small but have ambitions to expand, grow and deliver sustainable change. It is also hoped the fund will support needs such as capital projects, core running costs or new innovations.

"Sage Foundation's enterprise fund is designed to help organisations generate further income, create new initiatives or enhance existing activity," says Joanne van der Walt, Sage Foundation manager for Africa.

"There are some wonderful charities across Africa who have innovative yet practical ideas about how they can solve some of the socio-economic challenges their communities face each day. We want to help them turn these exceptional ideas into reality."

Since January 2016, the Sage Foundation has been taking action to build sustainable social, economic and entrepreneurial opportunities in Sage's local communities around the world.

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