Hon Speaker, the ANC welcomes the launch of the R165 million Godisa Fund as a result of the collaboration between Anglo American's enterprise development arm, Zimele, Transnet and the Small Enterprise Finance Agency, Sefa.
The fund seeks to advance economic transformation by boosting small black- owned businesses, as well as addressing youth unemployment by promoting growth and sustainability amongst existing and potential black-owned suppliers of Transnet. The fund will offer loans and capital for the development of black-owned Transnet suppliers in the manufacturing and service sectors. Over the next 10 years, R150 million will be used for investment financing, while the remaining R15 million will be used for support services such as mentoring.
The ANC believes that enterprise development is really a vital source of job creation and poverty alleviation in this country. Therefore, there is a need to focus our attention on ensuring that young people have access to quality business opportunities. The fund is aimed at encouraging young black people who have aspirations to be entrepreneurs and suppliers of light and heavy manufactured products to access funding. [Time Expired.] [Applause.]