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Igniting the Economy!

Igniting the Economy!. September 2007. BACKGROUND INFORMATION.

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Igniting the Economy!

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  1. Igniting the Economy! September 2007

  2. BACKGROUND INFORMATION • In 1999, when we demutualised, we were able to pass on free shares to all who held Old Mutual policies. Not all of these shares have been claimed, and with the closure of the Unclaimed Shares Trust (UST), the funds arising will enable us to expand our efforts to continue transforming the South African economy. • In designing the activities of Masisizane, we have sought to address the challenges that we as a country face, and to support government’s Accelerated Shared Growth Initiative of South Africa (AsgiSA).

  3. BACKGROUND INFORMATION • Masisizane is a Section 21 (non-profit) organisation that has been created to coordinate the implementation of several initiatives.   • In summary, the initiatives are:  • The facilitation of the development of women-owned micro, small and medium-sized enterprises. • Financial education that aims to help South Africans improve their financial discipline and knowledge.

  4. BACKGROUND INFORMATION • The ILima Trust, which aims to develop capacity and skills within the public service, particularly at municipal level, to facilitate improved service delivery to communities across South Africa. • Promotion of direct foreign investment into initiatives that conform to the Masisizane objectives. • Continued support for the Joint Initiative for Priority Skills Acquisition (JIPSA) led by the Office of the deputy President.

  5. BACKGROUND INFORMATION

  6. “GOOD CAUSES” ELEMENTS

  7. MAIN OBJECTIVES • To contribute powerfully to the Economic Transformation of our country. • To contribute meaningfully to the alleviation of poverty through job creation. • To achieve economic upliftment and empowerment of women.

  8. MAIN OBJECTIVES…..cont • To deepen access to capital, provide business support, assist with procurement opportunities and financial education in rural, semi-urban and urban communities. • To contribute toward capacity building and skills development, particularly in local government.

  9. FOCUS AREAS • Focus on: • The poorest of the poor. • Women and previously marginalised. • In peri-urban and rural areas in line with government’s agenda (AsgiSA). • Build on Presidential Imbizo’s and Financial Imbizo’s.

  10. WOMEN-OWNED ENTERPRISES: R260m • Strengthening hands of partners, while • Leveraging infrastructure, capacity and footprint. • Implementing quickly. • Processes • Governances – S21 Board, legal agreements, monitoring.

  11. WOMEN-OWNED ENTERPRISES: R260m • End-to-end value chain • Basic financial education. • Business training, financing. • Technical support and mentorship. • Off take agreements.

  12. WOMEN-OWNED ENTERPRISES: R260m Partnership: Jobs For Growth (J4G) • Launched 22 August 2007 with Deputy President. • J4G created under ASGISA with the objective of creating a million jobs. • R20m donation. • Loans R25 000 to R1 million. • Off-take agreements with retailers: Mr Price, Score, Pick & Pay, Tata Motors.

  13. WOMEN-OWNED ENTERPRISES: R260m Partnership: Jobs For Growth • Focus: • SME’s & Co-operatives. • 51% women, 75% black. • Rural and peri-urban. • Focus areas: National. • Loan sizes: R20 000 to R1m.

  14. Partnership: Small Enterprise Foundation (SEF) WOMEN-OWNED ENTERPRISES: R260m • Most experienced micro-finance operator, currently in Limpopo. • Working on Grameen Bank principles (Bangladesh). • R20m donation. • Launched 19 September 2007.

  15. Partnership: Small Enterprise Foundation (SEF) WOMEN-OWNED ENTERPRISES: R260m • Focus: • Women only. • Rural areas. • Loans from R500 to R12 000. • Imbizo areas in Eastern Cape (Centani, Mnquma, Namacqua.

  16. WOMEN-OWNED ENTERPRISES: R260m Partnership: Umsobomvu • Effective 01 December 2007. • Umsobomvu was established in 2001 to address the unemployment challenges facing South African youth aged (18-35). • R100m donation matched rand for rand creating a R200m Fund. • Loans R100 000 to R5 million. • Focus area: National – urban and peri-urban.

  17. WOMEN-OWNED ENTERPRISES: R260m Partnership: Umsobomvu • Focus: • Companies and CCs with a profit motive. • Existing business operating for 5 years or less with a profit of less than R5m per annum. • More than 25% women owned. • If ownership below 25%, then 50% of employees must be black.

  18. Partnership: Women’s Development Business (WDB) WOMEN-OWNED ENTERPRISES: R260m • Started operating in 1991 and is a small microfinancing operation, whose mission is to improve the livelihood of South African women. • Have six branches in Mpumalanga and one branch in the KZN region. • R5m donation.

  19. Partnership: Women’s Development Business (WDB) WOMEN-OWNED ENTERPRISES: R260m • Effective 1 January 2008. • Focus: • Women only. • Rural areas. • Loans from R500 to R12 000. • Kwa-Zulu Natal.

  20. WOMEN-OWNED ENTERPRISES: R260m Partnership: Department of Trade and Industry (DTI) • Launched 18 December 2007. • The DTI's vision is that of a vibrant economy, characterised by growth, employment and equity, built on the full potential of all citizens. • The DTI and Masisizane have created a joined wome’s enterprise development fund, called the Isivande Women’s Fund. • Masisizane and DTI contributed R50m each.

  21. WOMEN-OWNED ENTERPRISES: R260m Partnership: Department of Trade and Industry (DTI) • Focus: • Sole Proprietor, Partnership, CC, Company, Co-operatives or Trusts. • 60% women, 75% black. • Rural and peri-urban. • Focus areas: National. • Loan sizes: R50 000 to R2m.

  22. WOMEN-OWNED ENTERPRISES: R260m Masisizane In-house Fund • The Masisizane board recommended that a small amount of funds be reserved for an in-house capability. • An initial R80 million have been reserved for this fund. • Loans R20 000 to R1 million with Credit Committee/board approval required for amounts in excess of R1m. • National with spend limited to R2m per province. • Spend limited to 70% existing businesses, 30% start-ups.

  23. WOMEN-OWNED ENTERPRISES: R260m Masisizane In-house Fund • Focus: • Sole Proprietor, Partnership, CC, Company, Co-operatives or Trusts. • 51% Women Ownership. • Employee Profile: 51% women, 75% black. • Rural and peri-urban.

  24. INVESTMENT INTO SA: R25m • Foreign investment directed towards • Enterprise development. • Education. • Skills development. • Capacity building. • To accelerate South Africa’s ability to achieve development goals.

  25. FINANCIAL EDUCATION: R60m • Basic Financial Education • On-the-Money (OM Retail). • Graduates. • Business Skills • Business planning, Regulatory compliance, etc (Nedbank). • Technical Skills • Mentors, other organisations.

  26. PROJECT ILIMA - R50m • “Ploughing back”. • Former senior OMSA employees. • Local Govt focus: performance improvement, hands-on support, technical assistance. • Project Consolidate Municipalities.

  27. JIPSA: R5m • OM Business School - 100 project managers. • Collaboration with AsgiSA & DP’s office. • Application of further R5m approved. • Earmarked for youth development through the National Youth Forum.

  28. Further Developments Planned • R100m fund with the DTI in Feb 2008. • Direct lending facility: Agriparks, Sustainable Villages.

  29. THANK YOU! Ndiyabulela!!

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