Masisizane has committed R100 million towards its flagship initiative, the development of grain and dairy farmers in the municipalities of Alfred Nzo and Harry Gwala in the Eastern Cape.
The development of viable agri-clusters is the cornerstone of the Fund's approach to agriculture. When working together as a cluster, small scale farmers can benefit from economies of scale, and ultimately make a positive impact on their communities.
The project was initiated in 2013 with 15 farmers. Funding in 2014 focused on developing value-adding functions such as mechanisation and storage. Planting has increased from 1000 ha to 3 300 ha and the plan is to increase the overall target to 10 000 ha over the next three years.
Apart from loan finance, Masisizane provides business and technical support.
Fast facts on Masisizane
- Masisizane was established in 2007 as an initiative of Old Mutual South Africa.
- Masisizane's capital base is R988 million.
- 70% of the small, medium and micro enterprises (SMMEs) assisted by Masisizane are owned by either black women or youth.
- 75% of these enterprises are either in rural areas, townships or peri-urban centres.
- Masisizane plans to disburse a further R300 million to deserving, viable SMMEs in the coming three years.
- To date 1 453 jobs have been facilitated through direct enterprise funding and 46 057 through partnerships.
- Masisizane recently received a Forging Enterprise Award for its pioneering role in promoting small business.
Read more about The Masisizane Fund