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about enterprise development

What is Enterprise Development?

Enterprise Development is aimed at developing small, medium and micro-enterprises (SMMES) in the Agriculture, Manufacturing and Commercial sectors. The portfolio funds enterprises that will create permanent sustainable jobs. The goal is to develop rural, peri-urban and township communities to ensure they participate in the mainstream economy of South Africa.
More about Enterprise Development

We have a hybrid funding approach that combines grant funding from the Old Mutual Foundation and loan funding from Masisizane Fund and/or other funding partners. We’re seeking businesses or projects which are social enterprises or those that are addressing a social need in communities.

Our Enterprise Development Projects

Under Our Enterprise Development Projects replace current info with The Old Mutual Foundation has invested R1 775 000 to purchase equipment, register a trademark, and working capital for Happy Earth People(HEP). HEP is a 51% black-owned, 100% women and 100% youth-owned private company established in 2015. It has created a first of a kind in South Africa legume pasta which is made from 100% pure chickpeas and lentils.

The funding criteriaWe have a hybrid funding approach which combines grant funding from the Old Mutual Foundation and loan funding from the Masisizane Fund Trust and/or other funding partners.Deal size
  • Grant funding: Between R500K – R2 million.
  • Grant funding requests < R500K will be considered on a case-by-case basis.
Deal size
  • Grant funding: Between R500K – R2 million.
  • Grant funding requests < R500K will be considered on a case-by-case basis.
Deal size
  • Grant funding: Between R500K – R2 million.
  • Grant funding requests < R500K will be considered on a case-by-case basis.
Entrepreneur(s) Profile

Entrepreneur(s) will be assessed against the following criteria:

Education

  • Experience (knowledge or mastery of subject gained through involvement in or exposure to it)
  • Background check.
Entrepreneur(s) Profile

Entrepreneur(s) will be assessed against the following criteria:

Education

  • Experience (knowledge or mastery of subject gained through involvement in or exposure to it)
  • Background check.
Entrepreneur(s) Profile

Entrepreneur(s) will be assessed against the following criteria:

Education

  • Experience (knowledge or mastery of subject gained through involvement in or exposure to it)
  • Background check.
Geographic Focus

Businesses located nationwide, preference given to businesses located in rural, peri-urban and township areas.

Geographic Focus

Businesses located nationwide, preference given to businesses located in rural, peri-urban and township areas.

Geographic Focus

Businesses located nationwide, preference given to businesses located in rural, peri-urban and township areas.

Ownership

>51% black (African, Coloured, Indian as per BBBEE codes) owned businesses.

Ownership

>51% black (African, Coloured, Indian as per BBBEE codes) owned businesses.

Ownership

>51% black (African, Coloured, Indian as per BBBEE codes) owned businesses.

Sector Focus

Agriculture, manufacturing and commercial.

Sector Focus

Agriculture, manufacturing and commercial.

Sector Focus

Agriculture, manufacturing and commercial.

What to know more about our funding criteria?We have a hybrid funding approach that combines grant funding from the Old Mutual Foundation and loan funding from the Masisizane Fund Trust and/or other funding partners.
  • Start and existing businesses

    ∙ Must have sold products and have guaranteed off-take agreements (contracts) in place.

    ∙ For start-up businesses operating for 2 years and less, letters of intent may be considered, but the type of industry the business falls under will be factored and each business assessed on its own merit.

    ∙ For businesses operating for 2 years and less, a maximum funding threshold of R1million will apply.

    ∙ For businesses operating for 2 years and more, the maximum funding threshold is R2 million.

    Turn around deals

    ∙ Only accepted through referral by a funding partner and are decided on a case-by-case basis.

    ∙ The focus will be on identification of factors that resulted in the business failing in the past and how these challenges have been overcome.

  • Buy-ins (purchase of shares from a party that is not part of the business. No, buyouts.

    ∙ Closed corporation (CC).

    ∙ Co-operative (Co-op) - Considered under specific conditions.

    ∙ Non-profit or non- governmental organisations (NPOs/NGOs). Only the ones which are setup to create a cluster of viable businesses or social enterprises.

    ∙ Private company (Pty) Ltd.

    ∙ Trusts – considered under specific conditions

    • Working capital is capped at not more than 60% of total grant funding amount.
    • Capex (infrastructure and equipment purchases etc.).
    • Business development support (BDS).
    • Black woman owned businesses
    • Black youth owned businesses
    • Businesses which have shown effect or influence made through social and transformation activities.
    • Businesses which have a strategic partner assisting the businesses with accessing markets, providing technical expertise and business development support (BDS).

    We do not fund the following in the Enterprise Development Portfolio:

    • Purchase of land and/or buildings
    • Business incubators or organisations offering training to businesses or entrepreneurs
    • Conferences or events. Sponsorship of conferences and events exception made if the sponsorship will provide a platform for Old Mutual Foundation to profile its programme and it may lead to business referrals.
    • We’re always keen on establishing relationships with organisations aligned to our strategy to collaborate in meeting our objectives. Call us and share your thoughts and how you think we can work together.
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Copyright Old Mutual Limited 2020
Disclaimer Privacy Notice
Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
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