Northern Cape launches R80 Million enterprise fund for marginalised groups

The Northern Cape province introduced an R80 million Enterprise Fund to support Small, Medium, and Micro Enterprises (SMMEs) owned by people with disabilities, women, and youth.

SABC News reported that the Ministry of Youth, Women, and Persons with Disabilities initiated the fund, which began accepting applications on Saturday.

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Northern Cape launches fund for marginalised groups

Premier Zamani Saul spearheaded the long-awaited launch of the Enterprise Fund for Youth, Women, and Persons with Disabilities.

At the event, they allocated R9 million to two National First Division soccer teams in the province, Hungry Lions and Upington City FC.

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The Richmond Ladies Football Club received a substantial donation. Over 500 business owners attended, expressing hope for funding.

One said, “We need this for our NPOs and youth to combat challenges like drugs. We’re grateful to Premier.”

Another praised the initiative’s positive impact, saying it’s for a good cause, shedding light on how it’ll improve lives for youth and disabled individuals.

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It was divided into three categories

The funding has been divided into three categories. Premier Saul stressed their aim to assist funded businesses in boosting the economy.

He detailed the allocation: R30 million for the Enterprise Fund, R30 million for unboxing Basha, and R20 million for the Township and Rural Economy Grant.

This totals R80 million in funding. Saul emphasized the need to inject life, energy, and dynamism into the province’s economy for revitalization.

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“Recipients of the fund won’t just get financial aid; they can also access business incubation and mentorship programs.”

MEC Venus Blennies expressed her optimism that the fund would revitalize eligible small businesses.

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“Our goal is to support businesses owned by youth, women, and persons with disabilities, fostering their growth, and for startups, guiding them in their early stages.

Additionally, we’ve initiated the ‘unboxing Basha’ project, aimed at rejuvenating the township economy.

This effort includes training young people interested in container businesses like Spaza shops, salons, and bakeries to ensure their businesses thrive,” Blennies elaborated.

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