Anglo American’s enterprise development initiative, Zimele, has for the past 26 years been supporting and empowering entrepreneurs to set up and run their own businesses sustainably through funding and mentorship.
Zimele’s enterprise development journey began well before ED legislation was passed in South Africa and subsequent to the passing of the legislation, Zimele was aligned with the enterprise development policies implemented by Government.
Zimele’s objective, however remained unchanged and the vision of enabling entrepreneurs stand on their own feet and grow by providing a successful formula for financial support and continuous mentoring continued to be realised. In 2014 alone, Zimele provided R436 million in funding to 270 businesses that collectively employed 8,204 people.
One such company is Maduka Resources, a company based in eMalahleni in Witbank that has a long-term contract with Coal South Africa’s Goedehoop colliery for fencing and painting. Maduka Resources also assists Coal South Africa’s Zibulo colliery. The company has received over R2 million in loan funding from Zimele’s Community Fund since 2013 and has contracts across the Mpumalanga province, including with Eskom.
Zanele Masilela, Managing Director of Maduka Resources says that Zimele has changed her life, “From an office staff compliment of 6 people, Zimele’s support has helped me grow my business to 23 employees.”
She adds that Zimele has provided her with support during the toughest of times. “The first month was the toughest, we did not have the funds to pay our staff, and we had financial challenges. We were not equipped with the knowledge of running a profitable business. Zimele provided us with a mentor who helped us learn about cash flow, income and expenditure which has helped us better manage our funds. They don’t just help you, they believe in you, in your skills and your passion for your work and they help you grow.”
Zimele has recently helped Zanele purchase a 22-seater bus which transports staff to and from work and this has made her life much easier, she added.
Andile Sangqu, Executive Head for Anglo American in South Africa says, “We believe that we can transform this nation together with our partners. One of the ways we do this is through enterprise development. We feel this is one of the most effective ways of delivering sustainable, broad-based economic growth in local economies and falls directly in line with the objectives set out in Government’s National Development Plan (NDP).”
The success of Zimele’s efforts derives from innovative public private partnerships, particularly those which take direction from the government’s national development imperatives. We’ve proven that public private partnerships are key to stimulating economic development and this imperative is embedded in the way Anglo American operates.
Three of Zimele’s funds are offered in partnership with other governmental organisations: The sefa Mining Fund is a joint initiative between Anglo American and the Small Enterprise Funding Agency (sefa); the Godisa Supplier Development Fund was also created in partnership sefa; while the Sebenza Fund is offered in partnership with the Development Bank of South Africa.
To read more about Anglo American’s commitment to a transformed mining industry and nation, download the latest Transformation Report (http://bit.ly/1L9lfE2).