Kaya 959 Kaya Biz

FNB launches R200m Vumela fund to grow small business

Loading player...
On Tuesday big four bank FNB launched its fourth Vumela fund, worth R200 million, which aims to offer alternate financing to 150 black-owned businesses and create 1 000 jobs.

FNB’s Vumela Enterprise Development Fund was established in 2009 by the lender’s commercial banking unit, in partnership with venture capital and private equity firm Edge Growth. Vumela – an isiZulu word meaning to allow, or enable – aims to create innovative financing models and support so-called ‘missing-middle’ black-owned small enterprises.

The newly launched Vumela 4.0 fund comprises two products: an accelerate loan and a venture debt loan.
9 Nov 2022 1PM English South Africa Business News · Investing

Other recent episodes

INSIDE YOUR BUSINESS: Transformation fund: opportunity or threat for SMEs?

The government is preparing to launch a revamped Transformation Fund as early as next week, rewriting incentives that have shaped corporate behaviour for more than two decades. Joining Gugulethu today is Jamell Khan from Unconventional CA (UCA), who has been vocal about the risks of centralising corporate transformation funds.
28 Jan 1PM 12 min

SAFDA’s plan to rescue Tongaat-Hulett and protect farmers’ livelihoods

South Africa’s sugar industry faces a critical moment as Tongaat-Hulett, one of the country’s oldest and most prominent sugar producers, confronts provisional liquidation despite ongoing efforts to stabilise the business. South African Farmers’ Development Association (SAFDA), led by Chairperson Dr Siyabonga Madlala, has stepped in to assure farmers and employees…
19 Feb 2PM 17 min

South African professionals are facing a new era of stress

South African professionals are facing a new era of stress, one that is no longer confined to busy periods or isolated pressures but embedded in the fabric of everyday life. The 2025 Profmed Stress Index released on Thursday reveals a workforce grappling with financial strain, toxic workplace cultures, systemic instability…
19 Feb 2PM 11 min
All episodes