<\/p>\n
Anglo American\u2019s Impact Finance Network (IFN) has mobilised more than R1.8 billion in third-party capital for businesses since 2021, as its annual InvestFest seeks to address funding and expertise constraints facing South African entrepreneurs.<\/p>\n
The programme, convened and enabled by Anglo American\u2019s IFN in partnership with the UK government and Anglo American Foundation and the Commonwealth and Development Office (FCDO) in South Africa, has supported more than 162 businesses through technical assistance, investment-readiness support, and access to business networks and helped sustain more than 46 000 livelihoods across southern Africa.<\/p>\n
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Emma Parker, the sustainable and impact finance manager at Anglo American, said, \u201cWe have seen catalytic funding de-risk opportunities, attract follow-on investment, and help entrepreneurs scale their business.\u201d<\/p>\n
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The latest InvestFest places a particular focus on youth entrepreneurship and the creative economy, connecting entrepreneurs with investors and other participants in the business ecosystem.<\/p>\n
One example is Keyo Ventures, a southern African venture capital fund established by entrepreneur Grace Legodi to provide early-stage alternative financing to green businesses.<\/p>\n
Keyo received a R2 million catalytic investment from IFN, which helped it secure a further R35 million commitment from an institutional investor.<\/p>\n
The programme\u2019s funding partnerships also extend to the Northern Cape. Anglo American\u2019s Kumba Iron Ore has committed R51.2 million over five years through its Impact Finance Facility to support businesses in the province, while the FCDO is contributing \u00a34.5 million to expand the programme and support businesses preparing for investment.<\/p>\n
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Mpumi Zikalala, CEO of Kumba Iron Ore, says, \u201cOne of our key priorities is to build a more diverse and resilient regional economy in the Northern Cape.\u201d<\/p>\n
Josephine Hetherington, head of economic development at the British High Commission in South Africa, says entrepreneurship provides a pathway for young people to participate in the economy and create opportunities for others.<\/p>\n
Phenyo Selinda is a Moneyweb intern.<\/p>\n
#Anglo #American #IFN #initiative #links #entrepreneurs #R1.8bn #capital<\/p>\n","protected":false},"excerpt":{"rendered":"
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