Sasol Siyakha Trust Launches Women Empowerment Finance
Sasol Siyakha Trust Launches Women Empowerment Finance. In celebration of South Africa’s Women’s Month 2023, Sasol Siyakha Enterprise and Supplier Development Trust (Siyakha Trust), an SME funding vehicle wholly owned by Sasol, proudly announces the launch of the Women Empowerment Finance funding initiative.
This transformative funding solution is specifically designed to accelerate access to affordable capital for 100% black women-owned and managed suppliers that are participants in the Sasol development programmes across all sectors within Sasol’s value chain. The funding offering includes interest-free loans and preferential rates on interest-bearing loans for qualifying suppliers.
The Women Empowerment Finance solution is a proactive step in addressing the unique challenges faced by black women-owned businesses, which include limited access to capital within traditional funding channels. This initiative underscores our unwavering commitment to advancing gender equity, contributing to a stronger, more inclusive future within our organisation and across society at large.
In Africa, according to a comprehensive report published by the African Development Bank, the funding gap is estimated at $42 billion for women entrepreneurs across business value chains. Siyakha’s Women Empowerment Finance is tailored to uplift and support black women-owned suppliers, promoting diversity and inclusion within the business landscape, while advancing Sasol Siyakha’s strategic intent to foster economic growth and build a more equitable and resilient environment for women in business.
“As a fund dedicated to driving sustainable economic growth for historically disadvantaged small businesses, we recognise the significant barriers that black women-owned enterprises encounter when seeking funding. The Women Empowerment Finance exemplifies our unwavering commitment to breaking down these barriers and empowering black women entrepreneurs. It stands as a testament to our dedication in creating opportunities for sustainable development and economic inclusion” said Grace Nndwammbi, Chairperson of Sasol Siyakha Board of Trustees, expressing the significance of this initiative.
The Siyakha Trust embraces a holistic approach to funding that goes beyond traditional financial investment. It provides crucial capital, along with dedicated post-investment and technical development support, as well as mentorship, guiding entrepreneurs through various business challenges and helping them maximise their growth and impact.
Yonela Jeneto, Funding Manager for Sasol Siyakha, emphasises, “It is against this backdrop, that we are committed to ensuring that women-owned and-led businesses have access to affordable funding without onerous security requirements.” Sasol Siyakha remains steadfast in driving positive change and contributing to South Africa’s transformative journey. The Women Empowerment Finance solution represents a significant stride towards achieving gender equality and empowering women to play a pivotal role in the country’s economic development.
