Mzansi Black Business Accelerator programme Application deadline extended, for grant funding and loans to set up a vending machine business
The PepsiCo Foundation, Kgodiso Development Fund and FoodBev Manufacturing SETA have come together to form the Mzansi Black Business Accelerator programme; designed to address the challenge of access to finance and accelerate growth for aspiring young, black foodservice entrepreneurs.
The Mzansi Black Business Accelerator initiative will provide grant funding, loans on preferred rates, wraparound services, and training for 50 entrepreneurs to establish and grow foodservice businesses that will generate additional household income.
This additional household income will be used to uplift black women and youth (18-35 years old) from Gauteng, Kwa-Zulu Natal and Western Cape, who have an entrepreneurial spirit and who currently earn at least R10,000 per month.
Programme participants will receive grant funding and loans on preferred rates to set up a vending machine business. In addition to the funding, participants will receive mentorship and training in various aspects of running a foodservice business. This includes understanding the location strategy for the vending machine, product mix management, and financial management.
“The partnership framework between the PepsiCo Foundation, Kgodiso Development Fund, and the FoodBev SETA addresses the challenge of access to finance for young black South African foodservice entrepreneurs. Investing in food enterprises supports our ambition to create opportunities for the people in our communities to grow and thrive,” shared C.D. Glin, President of the PepsiCo Foundation & Global Head of Social Impact for PepsiCo.
Nonie Mokose, Trustee on the Kgodiso Development Fund’s added: “Think of the vending machine initiative as a modern-day version of a 24/7 micro-enterprise. This programme will drive a step-change in economic empowerment and help to address the security, cost, management challenges of starting a small shop.”
The Mzansi Black Business Accelerator initiative, according to Nokuthula Selamolela, CEO FoodBev Manufacturing SETA, reflects their commitment to fostering sustainable growth within the food and beverage sector.
“By joining forces with the PepsiCo Foundation and the Kgodiso Development Fund, we are not only investing in the future of these individuals but also contributing to the broader goal of advancing skills development across South Africa. Together, we are creating pathways to success, driving innovation, and cultivating a more inclusive landscape for businesses to flourish.”
Interested entrepreneurs can visit the Kgodiso Development Fund website https://kgodisofund.co.za for eligibility criteria, programme details and to apply. Submissions will close on Tuesday, 23 April 2024.
About The PepsiCo Foundation
The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with a mission to support thriving communities. Working with non-profits and experts around the globe, we’re focused on helping communities obtain access to food security, safe water and economic opportunity. We strive for tangible impact in the places where we live and work—collaborating with industry peers, local and international organizations, and our employees to affect large-scale change on the issues that matter to us and are of global importance. Learn more at www.pepsicofoundation.com.
About the Kgodiso Development Fund
The Kgodiso Development Fund is an independent fund founded by PepsiCo Inc. The Fund aims to support the broad socioeconomic imperatives of education, SMMEs, emerging farmers and enterprise development across PepsiCo’s value chain.
About FoodBev Manufacturing Sector Education and Training Authority (FoodBev SETA):
FoodBev SETA is a Schedule 3A Public Entity established by the Skills Development Act of 1998, under the Department of Higher Education and Training. The primary objective of FoodBev SETA is to drive skills development within the food and beverages manufacturing sector through promotion, facilitation, and incentives. As one of the 21 Sector Education and Training Authorities (SETAs) in South Africa, FoodBev SETA is tasked with implementing the National Skills Development Plan (NSDP) within our sector.
The members of FoodBev SETA come from various industries within the sector, including Manufacture of Dairy, Manufacture of Beverages, Manufacture of Breakfast products, Manufacture of Food preparation products and Manufacture of Production, processing and preservation of meat, fish, vegetable, oil and fat.
The functions and responsibilities of SETAs are outlined in Chapter 3, section 10 of the Skills Development Act,(97 of 1998) such as, develop a sector skills plan within the framework of the national skills development strategy; implement its sector skills plan in accordance with the NSDP with specific outcomes such as identifying occupations in high demand, linking education and workplace, improving workforce skills level, etc. Furthermore, also promotes learning programs, registers agreements for learning programs, disburses levies collected from employers and their sector, monitors program implementation, and supports Career Guidance Services among other duties. FoodBev SETA also performs functions delegated to it by Quality Council for Trades and Occupations (QCTO).
For more information about FoodBev SETA visit www.foodbev.co.za or contact them via email at [email protected]. You can also follow them on social media platforms like Twitter(X), Instagram, Facebook and LinkedIn @FoodBevSeta (FoodBev SETA).
