Entrepreneurial Network South Africa (Enablis), Khula Enterprise Finance and FNB Enterprise Solutions have launched the Enablis Khula Loan Fund to support ICT entrepreneurs and small to medium enterprises (SMEs).
Speaking at a media event in Sandton yesterday, Enablis CEO Martin Feinstein said: "I`m happy to announce that our supporting partner chose SA as the launch pad for this project. The fund is capitalised at R50 million and will provide loan guarantees of between R10 000 and R2.5 million."
Feinstein explained: "The loan fund is designed to enable easier access to financing for ICT entrepreneurs and ICT-enabled enterprises.
"The use of ICT is significant for the development of the country, therefore the loan fund will support entrepreneurs and SMEs whose activities improve access to markets, technology skills, employment and the introduction of technology to new users.
"Business support and services, in the form of business coaching and training events to enhance entrepreneurs and business performance, will be provided to entrepreneurs who receive loans through the fund," said Feinstein.
"ICT applications are critical for running businesses and this loan fund assists SMEs with flexibility and delivering services in real-time," said Khula Enterprise MD Xola Sithole.
"As a banking partner, FNB, through its special SME finance division, is committed to helping SMEs realise they too can create a high growth economy in SA," said FNB Enterprise Solutions CEO Duncan Randall.
He added: "We are happy to fully commit and support the development of SMEs in SA, because funding in ICT is rapidly becoming a priority and has a potential to grow."
Feinstein thanked all the partnership sponsors: Accenture, Hewlett-Packard and Telesystem, as well as the government of Canada for its support.
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