Johannesburg – Black business doyenne Phumla Mnganga and her business partners are on a mission to raise more than half a billion rand in private equity for small businesses trying to make headway.
Mnganga of Khulisa Investment Partners said as a blackowned private equity management company, Khulisa will raise investment funds from impact-driven investors.
“Khulisa has identified the two largest bottlenecks faced by growing SMEs: the first being access to strategic and governance skills, and the second being access to finance. Our solution was to establish Khulisa to address this conundrum and, by so doing, also contribute positively to our own future.
“In addition to harnessing the collective wisdom that exists in past and present business leaders and applying this to selected SMEs, Khulisa’s various funds will raise approximately R750-million from institutional funders to invest in SMEs operating in sectors such as engineering, manufacturing, healthcare, and fintech.”
Funding for small, medium and micro enterprises (SMMEs) in South Africa has been identified as one of the weaknesses of the sector.
The National Development Plan had set a target of 90% of new employment opportunities to be created by 2030 to come from SMMEs.
Trevor Gosling, the CEO of Lulalend, believes the role that SMMEs play cannot be underestimated.
“Not only do they contribute significantly to South Africa’s GDP and job creation, but even more importantly they are critical to driving more inclusive economic growth. Nearly 40% of SMMEs are owned by women.’’
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