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PRESENTATION TO SMME FUND
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• SMME FUNDSMME FUND
• INTRODUCTION TO UKWAKHAINTRODUCTION TO UKWAKHA• WORKSTREAMS PER OPERATIONAL
PLAN• QUESTIONS AND COMMENTSQUESTIONS AND COMMENTS
SMME FUND
• The KZN government has established an SMME Fund aimed at assisting historically disadvantaged individuals to start up and expand their businesses.
• The conceptualization of the Fund is being driven by desire to bridge the gap between the first and second economy with a view of meeting the objectives of black economic empowerment and create job opportunities.
• The key objective of the SMME Fund is to facilitate access to finance for small, medium and micro enterprises (SMME’s) as well as to facilitate access to financial support services for SMME’s particularly in the developmentally challenged areas of KwaZulu-Natal.
• It is expected that if these activities are successful SMME’s can establish viable ventures, expand and create job opportunities.
KZN SMME FUND
TREASURY
ABSAR25m / R25m (R50m)
R10 000 – R1mNo Deposit
ITHALAR115m
R10 000 –R15mNo Deposit
STANDARD BANKR30m
R100 000 – R3m Min. of 2.5% Deposit
UKWAKHA
INTRODUCTION TO UKWAKHA
• Ukwakha Business Support Services is a privately-owned company established to provide specialized support to SMME’s thereby creating a vibrant SMME sector in KwaZulu-Natal.
• Ukwakha believes that access to finance is crucial in fostering entrepreneurship, competitiveness, innovation and growth.
• The company primary activities are the facilitation of access to finance for small enterprises and providing after-care support
• Ukwakha works in collaboration with three financial institutions appointed by
government – Ithala, SBSA and ABSA
INTRODUCTION TO UKWAKHA (CONT…)Mission and Objectives
• Ensure that Finance is accessible to SMME’s and in rural economies;
• Job creation (in order to alleviate the levels of poverty and attempt to reduce the number of unemployed graduates within KZN;
• Create sustainable SMME’s in all sectors of the economy;
• Provide support and capacity building for SMME’s
• Create a vibrant SMME Sector
• Fast-track Black-Economic Empowerment (Act as catalyst for transforming the economy of the province).
INTRODUCTION TO UKWAKHA (CONT…)Consortium Members
Blaque Inc Services Sipho Mkhize
Mnganga & Associates Busisiwe Mnganga
MANTšA-TLALA EDUC. DEVELOPMENT TRAINING
AND FACILITATION (MTEDTF)CC
Sibongile Nhlangulela
INTRODUCTION TO UKWAKHA (CONT…)Consortium Members
Thabani Zulu & Company
Thabani Zulu
Powerful Business Solutions
Andile Buthelezi
Mzimela & Company Zenzele Mzimela
LRAN Consulting CC Linda Buthelezi
P
S
B
Pow erful Business Solutions
INTRODUCTION TO UKWAKHA (CONT…)
No District Name No District Name
001 Amajuba ( Newcastle) 07 Ilembe ( Stanger)
002 Zululand ( Vryheid) 08 Mgungundlovu (PMB)
003 Mkhanyakude (Jozini) 09 Ethekwini ( Durban)
004 Mzinyathi (Dundee) 10 Ugu (Portshepstone)
005 Uthungulu (Richards bay) 11 Sisonke (Ixopo)
006 Uthukela (Ladysmith)
PROJECT OFFICE:
3rd Floor SamrtXchange Building, 5 Walnut Road Durban 4001
Operational Sites
INTRODUCTION TO UKWAKHA (CONT…)
Organizational Structure
Executive Committee (7 Firms represented)
Project Director(Busi Mnganga)
Portfolio Managers (4)
Junior Managers (4)
District Officer (1)
District Assistants (7)
WORKSTREAMS PER OPERATIONAL PLAN
No.
Description
1 Initial Screening & Desktop assessment
2 Origination
3 Approval Process
4 Monitoring of Disbursements & roll-out
5 After-Care Support
6 Ongoing Monitoring and Reporting
PROPOSALS/REQUESTS
• All applications (irrespective of the state of the application) be processed via Ukwakha Project Office;
• Details relating to the Lending Criteria for the three Financial Institutions;
• Speedily processing of applications;
• Cooperation and support
Questions,
Comments
and
Answers
Thank you
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