Absa and HEINEKEN Beverages have established a 1.2 billion rand fund to support Black-owned small and medium enterprises. The initiative combines 600 million rand in grants from HEINEKEN with an equal amount in low-cost loans provided by Absa. It specifically targets historically disadvantaged businesses within sectors like agriculture, manufacturing, and packaging.
The program aims to foster job creation, strengthen local supply chains, and reduce import dependency. More than 100 enterprises are expected to benefit from this financial support, which is supplemented by business development training. HEINEKEN's contribution forms part of its broader Ukukhula Fund, reflecting its commitment to local sourcing. Absa will administer the fund and provide additional financial education resources.
The program aims to foster job creation, strengthen local supply chains, and reduce import dependency. More than 100 enterprises are expected to benefit from this financial support, which is supplemented by business development training. HEINEKEN's contribution forms part of its broader Ukukhula Fund, reflecting its commitment to local sourcing. Absa will administer the fund and provide additional financial education resources.
