Grant capital investment – SAB Foundation Endeavor28 October 2011
In partnership with Endeavor the SAB Foundation provides support and financial assistance to high-impact, black-owned businesses with grant capital up to R250 000. Endeavor is a non-profit organisation dedicated to transforming emerging markets by establishing high-impact entrepreneurship as the leading force for sustainable economic development.
In July 2011, the SAB Foundation invested in a first round of six businesses, followed by investments in a further five businneses in November 2011.
The SAB Foundation has invested in the following businesses:
Masana Hygiene Services - Provides contract cleaning services. Entrepreneur Cynthia Mkhombo started Masana in 2004. Her first six month contract enabled her to employ Masana's first seven cleaners. Today she employs over 1,200 cleaners and has major clients including, the Gautrain, Woolworths stores and Growthpoint.
Medupe Electrical Supplies (MES) - In 1999, Lemao Motaung launched MES, an electrical cable accessories distribution company, which also provides training for end users in the utilities industry. The utilities market in South Africa is undergoing significant expansion and change, which offers MES the opportunity to grow substantially in the coming years.
Sakhumzi’s - Founded in 2001 by Sakhumzi Maqubela, Sakhumzi's is a restaurant located on the historical Vilakazi street, Soweto. It provides tourists and locals with an authentic, local township experience that includes food, history and a warm environment. Sakhumzi’s vision is to be the choice destination of all visitors to Soweto.
Katsy Gaming Zone - aims to make the video gaming industry more accessible and affordable to children living in South Africa’s townships. The business is a container-based digital gaming franchise outlet that provides safe, educational entertainment through the latest gaming technology (PlayStation and Xbox) to children for as little as R1.
Stoned Cherrie - Nkensani Nkosi's Stoned Cherrie is a brand of freedom, embodying the afro-urban culture of the “new South Africa.” Founded in 2000 it promotes a lifestyle of freedom, originality, and authenticity and will manifest this vision in lifestyle products from apparel to shoes to home décor to bath & body and beyond. The company has already created ranges for Foschini and Woolworths and has shown at New York Fashion Week.
Studio 05 –provides practical education an training for learners in the fashion industry. With the capital injection received from the SAB Foundation Studio 05 purchased CAD software to extend their training offering.
Apple Green – a waste management company purchased a glass crusher and plastic granulator in order to begin a franchise pilot through their SAB Foundation investment.
Lere Shoe Shine – provides shoe shine services at South African airports. With the capital injection received from the SAB Foundation Lere Shoe Shine purchased additional equipment to enable the employment of persons with disabilities.
Scratch Mobile – delivers quick, convenient, quality auto paint workmanship twenty-four hours a day. The investment made by the SAB Foundation was used to buy mobile units to enable better client service at work or at home.
Silulo Ulutho Technologies – provides information systems solution to previously disadvantaged communities, schools and organisations with an objective to boost computer literacy levels. With the capital injection received from the SAB Foundation they are equipping a new outlet in the Eastern Cape.
Sophiatown Bar Lounge – delivers a dining experience infused with South African heritage. With the investment made by the SAB Foundation in the business they are refurbishing the kitchen in their new outlet in the Maponya Mall, Soweto,