Black-owned enterprises are being encouraged to seek for funding through the Khulisani Ventures fund of the Mineworkers Investment Company (MIC), a South African investment organization that has supported community-based economic projects for 30 years.
According to Media, the Johannesburg-based MIC announced the opening of MIC Khulisani Ventures in 2021. This early-stage investment vehicle focuses on high-growth, innovative, black-owned firms in South Africa.
The Mineworkers Investment Trust (MIT) founded MIC, a fully Black-owned investment firm, in 1995 with the goal of building a sustainable asset base for the benefit of mine, energy, and construction workers as well as their dependents.
With the exception of primary agriculture and primary extractive industries, MIC Khulisani Ventures makes investments in businesses with strong development prospects in all industries. The emphasis is on innovation, namely cutting-edge goods and services that upend established markets, increase productivity, or ingeniously address current issues in South Africa.
ZAR300 million (US $16.5 million) has been set aside by the corporation to assist early-stage businesses that demonstrate innovation, scalability, and sound governance. Funding is anticipated to start by March 2025, and applications are accepted until the end of January 2025.
