Ramaphosa injects R5m into budding trade

Cyril Ramaphosa
Cyril Ramaphosa

CYRIL Ramaphosa's Shanduka Holdings has announced a R5,2million business incubator programme to assist young black entrepreneurs.

Ramaphosa said yesterday that the aim of the Shanduka Black Umbrella programme was to provide assistance and grow small and emerging black business.

He said the initiative was a life-long dream. "This was the reason that I left politics - to foster black businesses. But I got side-tracked and got into big business through a variety of BEE deals which are usually overlaid with debt and complex issues."

Over the past two years Shanduka has spent R5,2million assisting 17 small and medium sized enterprises in Cape Town and Johannesburg.

Each business received R30000 each year in the form of services such as office space, bookkeeping, telephones, Internet, training, networking and reception services.

In exchange, established SMMEs pay a fee of R1000 and start-up businesses pay R500 over a three-year period or until they are self-sufficient.

"These are serious professionals not a Mickey Mouse operation run on the back of a cigarette box.

"They have been vetted and we recommend them to any corporates or people needing their services," Ramaphosa said.