Financial boost for sanitary project
A financial boost from SAB Foundation has put Subz Pants and Pads on the fast track.
SUBZ Pants and Pads, the KwaZulu-Natal-based organisation that sells patented reusable sanitary pads, has been accepted into the SAB Foundation’s Social Innovation Fund and Accelerator programme which aims to fast-tracksocial purpose businesses.
Sue Barnes, founder of Subz Pants and Pads and its non-profit extension, Project Dignity, said she was honoured to have been accepted into the programme.
“This is a huge injection of knowledge and funding for us to grow and upscale the business. I will be guided and mentored through this process, as Subz is on the brink of explosion into the market – not only in South Africa but throughout Africa. The plan is to upscale the business by focusing on empowerment development and employment. I am very excited that we have been recognised as a business to contend with,” said Barnes.
“It’s incredibly difficult for these organisations to apply for traditional funding because there is often no compelling business case in the early stages. However, these models are critical to support as they are finding innovative and sustainable ways of solving social problems. That is why the Foundation decided to select 12 high-performing award-winners who have persisted in their commitment to social innovation despite the obstacles faced,” explained SAB Foundation Director, Bridgit Evans.
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This strategic support will ensure the business is able to secure additional rounds of funding from other investors after the three-month programme. Financial investment from the SAB Foundation will be in the forms of grants and interest free loans ranging from between R500 000 and R2 million.
Visit www.subzpads.co.za.
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