Creating jobs is the single most important task to improve living conditions for the many previously disadvantaged individuals (PDI) in South Africa. Poverty and crime will significantly be reduced once people can take care of their basic needs. Supporting entrepreneurs to start a business or to help them grow an existing operation is the most promising route to create new jobs.
ESM Development AG (ESMD) has implemented a structure in South Africa for the sole purpose of investing in businesses of previously disadvantaged individuals and to provide them with the necessary business services and skills.
In order to qualify for funding, the entrepreneurs need to meet the following requirements:
- Have a business plan and the skills and enthusiasm to execute the plan
- nable to obtain loans from traditional finance institutions because of the location of their businesses or because they lack collateral