The Mineworkers Investment Company (MIC), a leading South African investment firm with three decades of experience in driving community-focused economic growth, is encouraging black-owned businesses to apply for funding through its Khulisani Ventures fund. This initiative is a testament to MIC’s dedication to fostering innovation, supporting entrepreneurial ventures, and advancing transformation in South Africa’s economy.
MIC, headquartered in Johannesburg, launched the Khulisani Ventures fund as part of its ongoing mission to empower black-owned businesses with high growth and innovative potential. The fund provides early-stage investments to enterprises with strong scalability, poised to make a significant impact on their industries. By targeting black entrepreneurs, MIC aims to close the funding gap that often hinders the growth of black-owned businesses and foster inclusive economic development.
Founded in 1995 by the Mineworkers Investment Trust (MIT), MIC is a 100% black-owned investment company established to create a sustainable asset base benefiting mine, energy, and construction workers, as well as their dependents. Since its inception, MIC has advanced socio-economic equity by investing in transformative businesses across diverse sectors.
The Khulisani Ventures fund specifically seeks businesses that deliver innovative products or services, particularly those disrupting traditional markets, improving efficiencies, or addressing existing challenges in South Africa with creative solutions. While the fund spans all sectors, it does not extend to primary agriculture and primary extractive industries, focusing instead on innovation and sustainable growth.
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With ZAR300 million (approximately US$16.5 million) allocated for this initiative, the fund underscores MIC’s commitment to supporting early-stage enterprises with the potential to drive meaningful economic impact. Beyond providing capital, the fund emphasizes the importance of strong governance and scalable business models to ensure long-term success for the ventures it supports.
Applications for Khulisani Ventures are open until the end of January 2025, offering black-owned businesses the chance to secure critical funding and mentorship opportunities. MIC anticipates beginning disbursements by March 2025, providing an essential boost to innovative entrepreneurs looking to scale their businesses and contribute to South Africa’s economic transformation.
This fund reflects MIC’s belief in the power of innovation and entrepreneurship to create a more equitable and prosperous South Africa. Khulisani Ventures prioritizes businesses that challenge norms and drive progress, positioning itself to play a pivotal role in shaping the future of the country’s economic landscape.
