Anglo Zimele - Anglo American South Africa
Anglo Zimele - Anglo American South Africa
Anglo Zimele - Anglo American South Africa
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8Who is eligible for funding?Black-owned small and medium enterprises andsmall-scale black-owned mining companies instart-up and expansion phase. For the SmallBusiness Start-up Fund, entrepreneurs mustbe located within a 50km radius of an <strong>Anglo</strong><strong>American</strong> operation.What are the general funding criteria?l Commercial viability – the business must besustainable in the long term and meet returnrequirements.l Transfer of skills – there must be potentialfor BEE entrepreneurial development.l Owner’s equity contribution – minimumof 10%.l For the Supply Chain Fund, there must bean existing or potential link into the <strong>Anglo</strong>supply chain.l The owners of the investee companies mustbe involved in the day-to-day managementand operation of the business.What are the financial funding criteria?l Maximum funding per deal:• Supply Chain Fund – R5 million• <strong>Anglo</strong> Khula Mining Fund – R20 million• Small Business Start-up Fund – R1 millionl For the Supply Chain Fund and the <strong>Anglo</strong>Khula Mining Fund, <strong>Anglo</strong> <strong>Zimele</strong> acquiresminority equity participation (10-49%).l Working capital requirements will be fundedthrough shareholder loans at prime plus1% (flat 10% for Small Business Start-upFund) with commercial repayment terms andconditions.