$4 M Basadi-Women Growth Fund launched by SA’s Business Partners to close gender financing gap
The ZAR90 million (US $4 million) Basadi-Women Growth Fund was established by South Africa’s Business Partners to offer customized business financing, ranging from ZAR250,000 (US $11,000) to ZAR5 million (US $221,000), with the express purpose of assisting women with successful formal small and medium-sized businesses who might not be eligible for funding through conventional channels.
The Basadi-Women Growth Fund offers business financing for the purchase of real estate, working capital, equipment or asset financing, acquisitions or takeovers, replacement financing, or the purchase of a profitable start-up franchise.
The terms of the financing are set to guarantee sustainability and growth potential, and the price is competitive. The fund’s adaptable structure, which offers women-owned companies the choice of interest capitalization or a six-month repayment moratorium, is a real game-changer.
“We need to cultivate an inclusive entrepreneurial environment for women to experience the same level of growth and opportunity as men. We plan to do this by providing not only funding, but access to networks where entrepreneurs can be exposed to mentorship opportunities,” said René Botha, regional investment manager at Business Partners.
Increasing the number of women entrepreneurs has the potential to make a substantial contribution to long-term economic growth.
“On top of the benefits of job and wealth creation, women mainly enter entrepreneurship to make a positive difference in society. This benefit alone should outweigh any barrier to entry they face if we want to drive economic growth and impact society in South Africa,” said Botha.
“Through the Basadi-Women Growth Fund, we aim to do more than provide capital. By offering technical support as well as networking and mentorship opportunities, we’re addressing the deeper barriers that limit women entrepreneurs’ growth. We do this because we understand that women’s success is not only their own – it drives communities forward.”
Applications can be submitted here.
