R30 million funding for small businesses
The youth-driven start-up has made access to its services easier for everyone in South Africa with its digital application process.
South Coast-based Small, Medium and Micro Enterprises (SMMEs) can benefit from a R30 million funding pledge by The Ant Capital.
According to the co-founder and managing director of The Ant Capital, Aviwe Notshweleka, the pledge is part of the company’s commitment to breaking down the financial barrier to access government procurement opportunities and alternative finance start-ups.
He added that the R30 million pledge will fund SMMEs who have been awarded supply and delivery purchase orders but do not have working capital.
Notshweleka said since December 2020, which is when The Ant Capital was founded, they have funded over 105 projects valued at over R13 000 000 in its first 18 months of operations helping over 85 SMMEs which would have had to forfeit their contracts because of financial challenges.
“Our mission is to ensure that SMMEs who are willing and able to participate in government procurement opportunities are not excluded just on the basis of not having enough money. The past year was more of a testing stage for us, just to read the market and match our services with the needs of our clientele.”
Although the company’s offices are based in Kokstad, the youth-driven start-up has made access to its services easier for everyone in South Africa with its digital application process. “This is us showing our full commitment towards these SMMEs and we are hoping to do more in the near future,” said Notshweleka.
He added that the R30 million was mostly raised by the co-founders of The Ant Capital, saying that although they focus mostly on SMMEs in KwaZulu-Natal and the Eastern Cape, any small business in South Africa can apply for a portion of the R30 million pledge.
Notshweleka said The Ant Capital tailored its services to suit small to medium businesses with its service listing including business advisory services and invoice purchasing which is aimed at solving immediate cashflow problems.
He added that SMMEs which wished to take on the opportunity can apply online by visiting: www.theantcapital.co.za.
Alternatively, they can contact The Ant Capital on 039 727 5720, send a WhatsApp text to 071 275 8419, or email info@theantcapital.co.za.
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