Metro calls on all budding entrepreneurs

The Ekurhuleni metro is looking to fund small to medium businesses to help stimulate the economy and boost job creation.

The purpose of the Ekurhuleni Community Enterprise Development Fund (ECEDF) is to support the development of community enterprises in the form of individual entrepreneurs, small, micro and medium enterprises, cooperatives, informal traders and formal businesses.

The ECED fund is anchored by the Ekurhuleni Ten Point Economic Plan which seeks to position Gauteng Eastern Development Corridor as the anchor and footprint of the provincial economy.

Small Medium Enterprises (SMEs) sectors will be prioritised as a job creation catalyst that must be leveraged on immediate

The fund seeks to provide assistance for the 2019/20 financial year and proposals are sought to focus on providing creative and innovative business concepts, solutions and programmes that will address:

• Township economy

• Industrialisation

• Business services

• Environmental services

• Human development.

This fund is characterised by the following groups;

PHANDA (SA slang for ‘hustling’), calls to:

• Local entrepreneurs, enterprises and cooperatives.

Please note this is for non-financial support (business plan) and post investment support through mentorship and business support.

Application forms are available at all youth offices at customer care centres and closing date is January 31, 2020.

Funding threshold: R50 000 to R1.5-million

XIMILANI (meaning ‘germinating seed’) is aimed at:

• Business incubators

• Soft, technical and business skills development providers

• Women, youth and PWD development formations

Funding threshold: R100 000 to R1.5-m

• Agriculture development organisations

Funding threshold: R100 000 to R3-m

• Entrepreneurship pitching boosters development finance institution

Funding threshold: R100 000 to R6-m

Application forms are available from all youth offices at customer care centres and closing date is January 31, 2020.

FETOLA (meaning ‘transform’) has two categories:

A: ECED Fund seeks to partner on a 50-50 cost and risk sharing basis for the 2019/20 financial year, and targets development finance institutions, state-owned enterprises, corporate social investment partners, enterprises and supplier development and private funds

Funding threshold: R100 000 to R6 -m.

B: The ECED Fund targets black-owned businesses or industrialists and black-owned and managed businesses.

This fund is for entrepreneurs located and doing business within the metro

Funding threshold: R100 000 to R8-m

Information sessions on the fund will take place at the City Hall on South Main Reef Road on January 20,

from 10am to 12pm.

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