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Isivande Women’s Fund: Empowering Women in Business

Isivande Women’s Fund accelerates women’s economic empowerment by providing affordable finance and business support. Learn about fund objectives, challenges, and future plans.

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Isivande Women’s Fund: Empowering Women in Business

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  1. PRESENTATION TO THE PORTFOLIO COMMITTEE ON TRADE AND INDUSTRY PRESENTED BY MR SIPHO ZIKODE : DEPUTY DIRECTOR GENERAL BROADENING PARTICIPATION DIVISION DATE: 26 JULY 2012

  2. ISIVANDE

  3. ISIVANDE WOMEN’S FUND INDEX • BACKGROUND INFORMATION • FUND OBJECTIVES • BUSINESS & TECHNICAL SUPPORT • FUNDS DISBURSED TO DATE • FUNDS APPROVED • CHALLENGES • FORWARD LOOKING

  4. BACKGROUND INFORMATION • An exclusive women’s fund that aims to accelerate women’s economic empowerment by providing affordable, usable and responsive finance than is presently the case. • Isivande Women’s Fund (IWF) assists with business support services to enhance the success of the business. • The Fund pursues deals involving start up funding, business expansion, business rehabilitations; franchise and bridging finance.

  5. FUND OBJECIVES Invest in businesses based in South Africa and owned and managed by women; Build and develop women-owned businesses; Promote and develop entrepreneurship in rural and peri-urban areas; and Achieve the targeted returns to ensure long term sustainability of the Fund. OBJECTIVES

  6. BUSINESS AND TECHNICAL SUPPORT • The Isivande Fund has set aside an amount for the provision of business support services to its clients. • “IDF Managers” has established strategic relationships with leading business support service providers to ensure the efficient delivery of this much needed service.

  7. FUNDS DISBURSED TO DATE

  8. GEOGRAPHICAL SPREAD

  9. TARGERT PERFORMANCE Targeted disbursements per original proposal • 15% in Year 1 = R5.13m • 30% in Year 2 = R10.26m • 30% in Year 3 = R10.26m • 20% in Year 4 = R6.84m • 5% in Year 5 = R1.7m Actual disbursements in Year 1 • R3.7m = 11% • 4% below target

  10. CHALLENGES • The Fund is performing below expectations; • The Fund Manager is not in a position to meet the high levels of expectations by the dti; • The current Fund management model is not suitable for IWF’s requirements; and • “IDF Managers” has a general approval rate of roughly 2 out of every 100 enquiries, or even less at times.

  11. FORWARD LOOKING • Increased size of funds will enable an increase in reach; • Change funding model; • Creation of separate Seed Capital Fund for Nascent businesses – grant and soft loans; • Allocation of dedicated resources for the Seed Fund; • Simplified legal agreements – basic grant or loan agreements; • Quicker turnaround times by front loading most of the work; • Pricing to be compared to other funders to improve competitiveness; • Strengthen other value adds – business and technical support, market access; and • New marketing strategy to attract proper deal flow.

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