Launching the Nedbank Indalo Fund to empower and grow sustainable enterprises

As a purpose-led organisation that uses its financial expertise to do good, Nedbank is committed to supporting enterprises and initiatives that have the potential to drive meaningful, sustainable development in South Africa . As part of this commitment, the bank actively seeks out innovative ways to leverage its resources and extensive partnerships to create positive social, economic and environmental impact.

For the past 3 years, Nedbank has been working with Indalo Inclusive on the South African Green and Inclusive Awards Programme Indalopreneneurhip Programme to identify and develop such enterprises. It’s been highly successful, having assisted 31 enterprises and created up to 147 jobs to date. According to Pillay, this innovative funding model is specifically designed to prepare enterprises to graduate from grant dependence to competing for investor funding, while allowing a portion of the Nedbank Indalo Fund's capital to be recycled to support additional entrepreneurs.To create value with a once-off funding bridge between commercial and grant funding.

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