Anglo American funded company makes significant difference to development of business operating in Northern Cape and Gauteng
Bustique 244 operates within the Northern Cape and Gauteng, manufacturing quality and tailor-made protective clothing that caters for women of all shapes and sizes.
- (1888PressRelease) January 24, 2013 - Financial assistance from Anglo American's enterprise development arm, Zimele, towards protective clothing manufacturer Bustique 244, is a perfect illustration of how the fund is making a real difference in furthering the business ambitions of entrepreneurs and Small and Medium Enterprises (SMEs).
Zimele provided funding of R809 000 to Bustique 244 in 2011, which assisted the company to fulfil a protective clothing order for construction company, WBHO. This order included the delivery of approximately 5 000 conti-suits, about 5 000 hard hats, and 3 900 pairs of safety boots.
"Previously, my company was faltering and not operating profitably. However, acquiring Zimele's assistance has significantly improved my business model, enabled quicker turnarounds, and set me on the road to profitability.
"This support has also enhanced Bustique 244's future prospects, as doors have been opened recently for potential orders with Anglo American's supply chain, including its Kumba Iron Ore, Platinum and Thermal coal businesses."
Selokoma notes that the assistance she received in fulfilling the WBHO order also played a part in ensuring 80 contract workers in the Northern Cape region gained temporary employment. She adds that as Bustique 244 grows and expands, some of these workers could gain permanent employment with the company.
Since 1989, Zimele has empowered black entrepreneurs through the creation and transformation of Small and Medium Enterprises (SMEs). This much is evident in its impressive statistics from 2008 to the end of 2011.
During this period, Zimele's four funds provided R567 million in funding, supported 1,085 companies, and completed 1,481 loan transactions. Further, these businesses employ 19,575 people, and achieved a collective annual turnover of R2,4 billion.
Dr. Lia Vangelatos, Acting Head of Zimele concludes that Zimele's assistance to SMEs such as Bustique 244 is ultimately furthering long term enterprise development in South Africa.
"Through supporting Small and Medium Enterprises such as Bustique 244 (Pty) Ltd, Zimele is ensuring that emerging black businesses are ultimately able to operate independently in the mainstream economy of South Africa.
"As a result, local enterprises are not only able to advance their own business aspirations, but also create a widespread and real difference in local communities."
For further information, please contact:
Media
South Africa
Hulisani Rasivhaga
Tel: +27 (0)11 638 4401
Notes to editors:
Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com
About Zimele:
Since 1989, Zimele has successfully empowered numerous black Small and Medium
Enterprises (SMEs) and entrepreneurs, and generated sustainable job creation and socio-economic development in predominantly peri-urban mining communities.
Zimele enables the companies it invests in to stand on their own feet and to grow, through a strategic blend of financial support and incubator-style mentorship.
This is achieved through four funds which provide business opportunities, training, capital and networking hubs for historically disadvantaged South Africans (HDSAs) and SMEs. These funds are the Anglo American Khula Mining Fund, the Supply Chain Fund, the Community Fund and the Green Fund.
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