Impala Launches R50 Million Support Fund to Fuel Growth for Local SMMEs

In a groundbreaking move to drive local economic growth and support small businesses, Impala Rustenburg and Impala Bafokeng have launched a new Enterprise and Supplier Development (ESD) PEO Fund, which is set to provide much-needed financial and business assistance to local Small, Medium, and Micro Enterprises (SMMEs). The official launch was held at Impala’s Visitors Centre on Thursday, 7 November 2024.

Impala Rustenburg’s Chief Executive, Moses Motlhageng, announced that a total of R50 million has been allocated to the fund, which aims to support small businesses with varying levels of financial need. The fund will operate in two phases: one for SMMEs seeking funding between R50,000 and R2 million, and another for those requiring assistance above R2 million.

Motlhageng emphasized that beyond financial support, the PEO Fund will also provide essential services in financial management to ensure that the supported businesses can operate smoothly and sustainably. “Our goal is not just to fund these enterprises but to equip them with the necessary tools and skills for effective financial management and overall success,” he said.

Priority will be given to businesses with existing purchase orders or valid contracts with Impala, ensuring that those already contributing to the company’s supply chain are empowered to grow further.

To promote awareness and accessibility of the PEO Fund, Motlhageng revealed that Impala will embark on a series of community outreach campaigns. “These campaigns are intended to inform and educate communities about this initiative, ensuring that eligible small businesses understand how to access the resources we’re offering,” he explained.

With this initiative, Impala Rustenburg and Impala Bafokeng aim to foster a thriving local economy, driving sustainable job creation and economic empowerment within the communities they serve.