There is no question that South Africa has huge potential. The only problem is there are a number of challenges that get in the way of the country’s growth. One of these challenges is the lack of skills, which is part and parcel of South Africa’s high levels of unemployment. Right now, unemployment sits at just above 25%. That is a quarter of the workforce left to fend for their families without a job.
Without the right skills and job opportunities, South Africa will never flourish the way we all know it can. It is small businesses that will be the engine that drives economic growth in this country. Over 12 million South Africans rely directly on small businesses for their livelihoods. Not only this, over 60% of the employable population actually find employment at these small enterprises.
Since 1989, Anglo American’s enterprise development arm, Zimele, has helped the businesses it funds to stand on their own two feet and grow through a strategic blend of financial support and mentorship.
The initiative has become a catalyst for emerging black business, with the knock-on effect being sustainable job creation and economic development in predominantly rural and peri-urban mining communities.
To date, Zimele has empowered 1,393 SMEs, which employ 25,364 people.
Zimele has achieved much in its proud history, with its model being adopted by numerous local and global players. The International Finance Corporation (IFC) has even prescribed the Zimele model as best practice for companies around the world seeking to integrate local SMEs into their supply chains, having been adopted by the World Bank and the United Nations Development Programme.
Dr Lia Vangelatos, acting MD of Zimele says, “As part of our model, in addition to the funding, Zimele also supports the individuals who run the businesses. We are heavily involved with mentorship programmes and the training and coaching of employers and employees of the businesses. This enables companies to have suitable structures and systems in place to assist them.”
To find out more about the inspiring work done at Zimele, click here. If you would like to apply for Zimele funding, click here.
From 31 October to 1 November, Anglo American will be supporting the Enterprise Development Conference in association with the Department of Trade and Industry and Growth Point. The aim this two-day think tank will be to showcase best-practice in enterprise development and help raise the standards for a thriving and healthy South Africa filled with opportunity. For more information on the Economic Development Conference, click here.