🌈You must be Black to get funded in South Africa?🌟

🌟 Dear Successful Entrepreneur! 🌟

This edition addresses a question that has surfaced in various conversations lately: "Must you be black to apply for funding in South Africa?" The answer is a resounding no. 🌈South Africa offers diverse funding options for entrepreneurs considering both the shareholding structure and the B-BBEE (Broad-Based Black Economic Empowerment) status. 💼

As per the definition of the B-BBEE Act, "Black people" is a generic term that means Africans, Coloureds, and Indians, as well as some Chinese who are citizens of the Republic of South Africa by birth or descent, or who became citizens by naturalization.

📋 Here's a comprehensive list of funding opportunities available to entrepreneurs in South Africa:

• 🌱 Land Bank
  The Land Bank finances all South African farmers, but for their blended funding, you need to have a minimum of 60% black shareholding.

• 💸 SEFA
  SEFA expects a minimum of 51% Black ownership.

• 💼 NEF
  The NEF expects a minimum of 51% Black ownership and will finance only the portion of the black shareholders.

• 🏭 IDC
  The IDC requires a minimum B-BBEE level of 4 and is satisfied if you can show how you will achieve this level in a few years.

• 📈 DTI Grants
  Depending on the program, the DTI requires a certain percentage of Black shareholding, a specific B-BBEE level, or, in some cases, a percentage of Black suppliers.

📌 Note: Each funding option has its own set of requirements regarding B-BBEE status and shareholding expectations. ✅

💡 All funds have 20 pages of rules and regulations and doing this on your own, making sure you tick all the boxes is challenging. ✔️

If you need further advice, a business plan, or support to raise funding for your business, don’t hesitate to contact us by replying to this email. 📧

To Your Success 💪✨

Your Funding Connection Team

Landline: +27 (0)31 761 8677 or Cellphone +27 (0)64 550 7052

Headquarters: 2 Old Main Road, Hillcrest Office Park, Hillcrest, KZN 3610

Satellite Offices: Johannesburg, Benoni, Soweto, Empangeni, Cape Town, Somerset West, Port Elizabeth, East London and more to come