advertisement  
 
 
 
 
 
 
Home | BUSINESS | INHLANYELO FUND DISBURSED E15m LOANS IN 2016
 
 

INHLANYELO FUND DISBURSED E15m LOANS IN 2016

image beneficiaries: Microloan Foundation, Peter Ryan from London and Mateo Zanetic joined the fund during a cheque handover to beneficiaries at Maphalaleni in October last year.

INHLANYELO Fund has disbursed loans amounting to E15 million to over 2 600 Swazi micro entrepreneurs between January 2016 and December 2016.

INHLANYELO Fund has disbursed loans amounting to E15 million to over 2 600 Swazi micro entrepreneurs between January 2016 and December 2016.

Inhlanyelo Fund Executive Manager Wandile Kunene said this was possible through funding received from the SWAKI Group of Companies and the Kirsh Family Foundation. 

He said a majority of the beneficiaries were women. 

“Overall 73 per cent of our beneficiaries are women,” said Kunene.

Asked if the beneficiaries were able to pay back the money, Kunene said a majority of them were able to do so and their repayment rate was 79 per cent.

The fund was first pronounced from the throne by His Majesty King Mswati III during the opening of the seventh Parliament of the Kingdom in February 1999. 

It was later officially launched by government at the Royal Swazi Sun Convention Centre in March 1999.

According to Kunene, the pronouncement followed a vision shared with the King by Natie Kirsh, after realisation of the glaring gap in the country’s financial services sector. 

Kunene said the vision of the fund bridges the division in the country’s financial services sector through the financing of grassroots entrepreneurs.

He said the intended result was to stimulate business activity and facilitate job creation at grassroots Swazi communities through the provision of seed capital finance to viable micro-enterprise projects.

value

“Inhlanyelo Fund ensures that it creates value for its beneficiaries by ensuring that only deserving micro entrepreneurs are provided with the loans.

The loan evaluation process is thorough. This evaluation process ensures that a beneficiary receives a loan which is appropriate to the size of the enterprise. 

Successful beneficiaries are provided with training by Small Enterprises Development Company (SEDCO). Ultimately, the beneficiaries are better equipped to manage their enterprises,” said Kunene.

He said the growth trajectory of their beneficiaries was remarkable in terms of increased income and assets. 

“Beneficiaries, who have utilised their loans well, have experienced an upward economic mobility. This is clearly observed from our beneficiaries who have won in national competitions like the Woman Farmer of the Year and Vegetable Farmer of the Year,” said Kunene.

Comments (0 posted):

Post your comment comment

Please enter the code you see in the image:

 
RELATED STORIES
 
   
     
 
advertisements
 
 
Advertise with us!
 
 
Advertise with us!
 
     
 
MOST POPULAR
 
   
     
 
MOST E-MAILED
 
   
     
 
NEWS
FEATURES & OPINION
ENTERTAINMENT
SPORTS
BUSINESS
 
All material © Swazi Observer. Material may not be published or reproduced in any form without prior written permission.
This site is proudly designed & hosted by Real Image Internet.