FNB, a founding partner of the Enablis Entrepreneurial Network in South Africa, awards a R2million grant in further support of local entrepreneurial development, capacity building and long term economic stimulation.
Enablis South Africa’s founding partner, FNB, announced that it will add R2million to its commitment to support Enablis’ enterprise development activities in South Africa again this year.
This continued support will facilitate Enablis’ efforts to develop successful and sustainable small businesses across South Africa. FNB Commercial Enterprise Development Manager, Mr Ishaq Lakhi, played a pivotal role in furthering FNB’s support of Enablis’ activities for yet another year. Lakhi explained, “FNB Commercial is committed to enabling, growing and accelerating black entrepreneurship in South Africa. We are proud to count Enablis as our Enterprise Development partner as they are committed to providing entrepreneurs with all the necessary tools to achieve success and sustainability.”
Enablis Africa CEO, Ms Ebenise Bester, commented, “Since 2004, Enablis South Africa has demonstrated its commitment to supporting entrepreneurs and their unique ability to create jobs and contribute to economic development. We are proud of the results we have been able to achieve and fortunate to have FNB as a partner that shares our commitment to small businesses.”
Enablis SA is a Section 21 not-for-profit entity, which has been sustained and supported by FNB since its prototype operations were established in South Africa, following its inception at the 2002 G8 Summit. In line with its mission to drive meaningful economic development and empower entrepreneurs in South Africa, Enablis is able to return full credit to partners for its Enterprise Development activities under the BBBEE Codes of Good Practice.
In a 2010 Independent Survey of Enablis Entrepreneur members in South Africa, conducted by research firm, Research in Action, it was found that 72% of Enablis members reported steady or increased turnover last year. This is the sixth consecutive year running that Enablis Entrepreneurs have reported marked increases. Amongst other results, 71% of Enablis members reported steady or increased profits, 36% have created new businesses and 52% improved, extended or introduced new products or services since 2009. The survey also demonstrates that an estimated total of 18,731 new jobs have been created by Enablis South Africa entrepreneurs since 2006.
With the support of local donors and strategic partners such as FNB, Enablis SA is able to nurture and develop aspiring entrepreneurs through capacity building, networking, skills development and funding support, as well as maintaining steady growth in Black Economic Empowerment. Bheki Sibiya, Chairman of Enablis South Africa, adds, “Enterprise Development ensures the promotion of black business people into the mainstream economy and is crucial to the advancement of economic development. Enablis has established itself as a provider of Enterprise Development credits for corporations seeking to participate in this critical element of job creation and economic development. We thank FNB most sincerely for this grant which will contribute significantly to the improvement of the lives of Enablis members.”
Mr. Victor Mzimela, Enablis South Africa Manager, added “We would like to thank FNB for sharing our vision of empowering entrepreneurs in South Africa. This country has a wealth of un-tapped potential in our entrepreneurs. It is only by supporting their development that South Africa will achieve its job creation goals.”