Sanlam, SANParks and I Am An Entrepreneur recently visited the beneficiaries in Kruger to chat about their progress in the programme. Many made mention of how the fund has helped them overcome their greatest challenge - accessing financing.

Lebogang Gondwe, fund beneficiary and founder of Yellow Sauce, which specialises in insecticide, said that lenders had previously charged him between 25% to 50%, which ate up most of his profit. "They are the ones who are benefitting, not us. But with this fund, the team behind this programme have really helped us."

Fellow beneficiary, Vuyani Ngcani, the founder of Lusando Trading, echoed this. "When you get tenders or supply and delivery work, and you get the money to do the job, some lenders put on too much interest. No capital caps business growth, with SMMEs scrambling just to pay back the high interest they owe."

Sedres adds, "Interest-free loans are game changers for SMMEs in the country, so that entrepreneurs can use the profits they gain from their contracts. This programme has shown that helping one SMME has a ripple down the chain of impacted beneficiaries in their lives."

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Sanlam Ltd. published this content on 12 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 12:59:09 UTC.