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Billion rand SME fund launched

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CAPE TOWN - More than 50 of South Africa's biggest companies have subscribed for shares in a R1,2 billion small and medium enterprise fund.

The fund was established as a private unlisted company by the CEO Initiative.

Not only will it provide budding entrepreneurs with access to venture capital, but they will also be able to be mentored by senior executives.

The South African Venture Capital Association's Erika van der Merwe explains: "This will support the transfer of skills and enable more people to develop their businesses, to ensure job creation in the process and create a healthier economy."

(Edited by Shimoney Regter)

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