Enterprise Finance Back To News
The newly launched Enterprise Finance programme that began last year October 2015 has successfully revolved over R200 000 in small business development loans. The programme is led by renowned micro finance expert Mr. Ben Nkuna the former Mananging Director of Small Enterprise Foundation and the CEO of Women's Development Business (WDB). Ben as Ikhayalami's Finance Manager intends on growing this portfolio substantially in the coming few years.
The project recieved a small grant of R50 000 from Arturo Brillembourg, an economist in Washington who is assisting Ikhayalami in developing an elaborate financial model for the roll out of the BT Section double story upgrade project. In discovering Ben's skills in managing micro finance institutions Arturo decided to donate R50 000 to assess the uptake amongst BT Section residents. Currently the programme is only available to BT residents. However due to the success of the project over the past year (from Oct 2015 to Dec 2016) with a 94% repayment rate with a R82 000 turnover and the provision of 31 loans it is time for IKhayalami to source funds to scale this project to reach other areas in Khayelitsha, Philippi, Guguletu and Langa.