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Zimele fund already aligned with new BBBEE codes

17th July 2015

By: Leandi Kolver

Creamer Media Deputy Editor

  

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Mining major Anglo American did not have to change the way its enterprise development arm, Zimele, functioned to adapt to the amended Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice, which came into force in May, Zimele MD Hlonela Lupuwana tells Mining Weekly.

She explains that all six Zimele funds are black economic-empowerment- (BEE-) focused and predate the new BBBEE codes.

“Anglo American Zimele was established in 1989, before BEE [legislation came into force]. It was established to promote economic empowerment, specifically within the Anglo American supply chain and the communities where we operate.”

Therefore, Zimele was a standard bearer, she says, stating that it is already focusing on all the other elements included in the new BBBEE scorecard, such as skills development, management and control.

Anglo American Zimele comprises the Community Fund, the Anglo American Sefa Mining Fund, the Supply Chain Fund, the Green Fund, the Sebenza Fund and the Godisa Fund.

The Supply Chain Fund provides funding primarily for small and medium-sized enter-prises (SMEs) that are awarded contracts within the Anglo American supply chain; however, this is not confined to Anglo American contracts.

Sebenza Fund
The Anglo American Sebenza Fund aims to provide new and sustainable employment throughout South Africa.

The programme, with a funding allocation of R500-million, is run by Anglo American Zimele, in partnership with the South African government’s Jobs Fund through the National Treasury.

Lupuwana explains that the fund provides funding for entrepreneurs who want to both start and grow businesses; funding and nonfinancial support (in the form of mentorship and other related technical advice) are available to entrepreneurs.

The Sebenza Fund, which became operational during the second half of 2013, disbursed R235-million in funding through 126 transactions as at the end of June 2015.

Of the R235-million, the construction and maintenance industries received 23%, manufacturing 17.54%, transport and logistics 12.39%, and cleaning and related services 8.49%. Agricultural and agroprocessing projects received 8.5%, supply and services 5.89%, food and beverage 4.64% and forestry 4.41%.

The Sebenza Fund aims to create 8 000 jobs by March 2018, which Lupuwana says the fund expects to achieve – as of March, 3 370 direct jobs had already been created.

Enterprise Development
Enterprise development is one of the most effective ways to ensure that the benefits for host communities arising out of corporate activities are sustainable, Anglo American notes.

“ Anglo American developed Zimele, our best practice model for enterprise development, to ensure sustainable benefits for the communities. Owing to its successes, we want to share the model with as many corporates, governments and interested parties as possible to promote the profile of enterprise development and increase dialogue around the issues and challenges we face, thereby encouraging many more such successful initiatives.”

 

Edited by Creamer Media Reporter

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