The mining group added that the ongoing sponsorship of the annual Enterprise Development Conference underway in Midrand, Gallagher Estate shows the company’s long term commitment to creating an environment that supports sustainable entrepreneurship in South Africa.
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“The past five years have seen this conference become a must-attend event on the corporate calendar, giving industry decision-makers, partners and various other stakeholders including government, the ideal platform to engage and amplify their collective impact in the sector,” said Anglo American in statement.
“With the revised Codes of Good Practice placing both enterprise and supplier development firmly in the spotlight, corporate South Africa is being called to action – to create sustainable, mutually-beneficial partnerships with SMEs that will drive innovation, service delivery and performance.”
The company says in so doing, these partnerships will catalyse long term economic growth and development, boost employment, further upliftment and reduce poverty.
This is the fifth year of the enterprise development conference which is spearheaded by Anglo American.
Khanyisile Kweyama, executive director of [DATA AGL:Anglo American Plc] said over the years the platform has grown to include other partners in driving SMME development among them is the Department of Trade and Industry.
Kweyama said this year the conference saw the entrance and participation by the new ministry of Small Business Development.
“Our initiatives on small, medium and micro enterprises (SMMEs) development are driven through the Zimele Enterprise Development Fund,” said Kweyama.
“The fund was started 25 years ago with the aim of creating SMME in non-mining related businesses and has since grown to include a mining fund which has helped develop junior miners."
Kweyama added that in 2011 the mining group Anglo American launched the Green Fund that seeks to help create a real difference to South Africa's environmental sustainability and green economic growth.
Anglo American committed an investment amount of 100 million rand to the Green Fund, which aims to empower and encourage entrepreneurs to operate in the green economy.
The fund is targeted at investment opportunities that mitigate carbon, reduce energy and water consumption, and improve waste and emissions management.
Last year the mining group also launched the Sebenza Fund which is a partnership between Anglo American and the Jobs Fund through the Development Bank of Southern Africa.
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The Sebenza Fund is modelled on the successes of Zimele’s other funds and provides a community-based hub system which offers financial and non-financial support to SMEs.
The Sebenza Fund provides both equity and/or loan finance at preferential interests rates to entrepreneurs and SMEs that are economically viable and can create new long-term sustainable jobs.