WDB Microfinance

A total of R5 million has been committed to WDB Microfinance for investment in small, women-owned, self-employment businesses in Kwazulu-Natal.

The aim of the fund with WDB is to assist women to be self-employed and to improve the livelihood of South African women.
Old Mutual will provide the beneficiaries with free financial education, while WDB would provide training on how to run a business, business support and mentorship, and encourage them to open savings accounts.
The target market for the fund is households with earnings below the poverty line in Northern Zululand (Kwa-Zulu Natal).

WDB Micro Finance started operating in 1991 and is a small micro financing operation, whose mission is to improve the livelihoods of South African women. The operation is held by the WDB Trust that also administers investment holdings (through WDB Investment Holdings), in order to support the long-term sustainability of the WDB operations.
Credit is provided to groups comprising five women.
The maximum interest rate and admin fees stipulated in the National Credit Act apply.

Self employed groups of five.
100% women owned.
Start-ups and existing groups needing refinancing.
Households living below the poverty line.
Focus area is Kwazulu-Natal.
No loans will be provided to fixed property arrangements and/or ventures that are (in the view of the fund managers) socially undesirable or irresponsible such as business with primary interests in tobacco, gambling, the sex industry and gaming.