About IDCThe Isivande Women’s Fund (IWF) has been set up to enable the enhancement of economic growth and/or empowerment to South African women in order to accelerate socio-economic development in the rural, peri-urban and township areas of South Africa.
IWF has been capitalised at R100 million, in order to fund women entrepreneurs and businesses. The sole investors of this fund are the dti and Old Mutual; who are each investing R50 million. The funding range is from R30 000 to R5 million.
IDC portion of the funding will be handling transactions between R500 000 and R2 million; whilst Old Mutual’s Masisizane will be handling transactions between R30 000 and R5 million.
The IDC managed IWF Fund complies with the following criteria:
- Minimum shareholding by women/woman in the funded vehicle of at least 60%.
- Only new entrants qualify for financing. (shareholder/s that do not have a direct or indirect total net asset base more than R15 million collectively)
- Accessible to start-up or expansion
- No financial contribution required depending on availability
- There must be operational and management involvement by women that are financed under the Scheme.
- Women must make up 50% or more of management of the investee company or target company at application. If this is not the case then this must be achieved within 2 years of approval.
- Investee must be an SME.
- No single investment should exceed the investment amount of R2 million.
- Beneficiary company/ies to hold 50% plus one share in a target enterprise.
Business Support
Masisizane’s Investment Criteria are as follows:
- Minimum investment amounts will be R30 000 and maximum R5 million.
- Maximum repayment term will be 5 years
- The investee must be an SME
- Business owners must be full time involved in the business operations and management of the company
- Must be operating the business for less than three (3) years
- The enterprise must have a formalized business structure
- Must employ minimum 75% black employees
- Must create or retain jobs on a sustainable basis
- Will finance all industry sectors except professional services (e.g., medical doctors, legal practices), real estate development and fixed property purchases, gambling, tobacco, wine & spirits industry, sex trade enterprises; and illegal activities or immoral activities
- Will not refinance existing debts
- Will not finance business owners that have declared bankruptcy in other ventures
- Will not finance businesses that would cause damage to the environment, engage in exploitative labour practices, or cruelty to animals
Who to contact
For more information on the Risk Capital Facility Strategic Business Unit, please click here to contact us or call us on 086 069 3888 or +2711269-3917. Alternatively, email our call centre at callcentre@idc.co.za
