SAB announces finalists for the Kickstart Boost

The South African Breweries (SAB) announced this year’s recipients of its R5-million loan as part of the 2016 edition of the SAB Kickstart Boost Entrepreneurs initiative.

The unveiling ceremony was hosted in Newtown and saw nine young entrepreneurs each awarded a portion of the loan to help fund their growing businesses.

Speaking at the announcement was Simphiwe Mntambo, enterprise development specialist at SAB, who explained that the initiative was initially started as a poverty alleviation programme. “It has since grown and evolved into an initiative focused on recognising young entrepreneurs and helping them start, grow and expand their businesses,” she said.

“SAB decided to do this because we recognised that the tough economy was making employment a challenge, especially for young people.”

The interest-free loan will be granted according to each business’s requirements and what they can afford to repay. Furthermore, each business will receive mentorship and exposure to potential clients for their business.

“By doing this, SAB hopes to help… young people get the necessary assistance in starting their own businesses,” she said.

Mntambo concluded by expressing hope that the initiative would continue growing and encouraged aspiring entrepreneurs between the ages of 18 to 35 to visit the website and submit their application.

The Kickstart initiative was founded in 1995 and was designed to help address the need to create sustainable jobs through supporting the development of young entrepreneurs and small enterprises. It consists of three different programmes: Kickstart Ignite, focused on assisting aspiring entrepreneurs with their business idea; Kickstart Boost, focused on providing funding for an existing business; and KickStart Elevate, focused on helping businesses expand their operations.

Details: www.sabkickstart.net