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Introduction

J.P. Morgan is pleased to announce the launch of the J.P. Morgan Abadali Equity Equivalent Investment Programme (EEIP) with the approval of the South African Department of Trade, Industry and Competition (the dtic).

Abadali translates to “Creators” in isiXhosa and isiZulu (Two of the 11 official languages in South Africa). 

The Abadali EEIP intends to create a positive economic and social impact in South Africa by addressing a critical funding gap for majority black owned and controlled enterprises. These businesses have historically found it challenging to access capital to finance growth. 

The Abadali EEIP initiative consists of two programmes

  • the Abadali Fund, a Black Business Growth Fund; and
  • the Abadali Grant. 

The Abadali Fund

The Abadali Fund will be created by the extension of R300 million in funding by J.P. Morgan over the next eight years.  These funds will be used to extend debt financing on flexible terms to selected, eligible black enterprises that do not fit the traditional underwriting criteria of “general commercial banking requirements”. The Fund will focus on supporting enterprises operating in mainly the Industrial and Green Economy sectors of the South African economy. Beneficiaries will also be able to participate in the “Business Development Support Model” process, a business support model to ensure job creation, growth and development over the eight-year period.

J.P. Morgan aims to support +500 early-stage businesses and to stimulate the creation of at least 1 000 net permanent jobs over the eight years.

The Abadali Grant

The Abadali Grant will extend R40 million in grants to majority black owned and controlled enterprises and will be internally managed by J.P. Morgan and delivered through J.P. Morgan strategic partners over the eight-year period. 

The application process for the Abadali Grant is not yet open, further information will be made available in due course.





Key Contacts

Kevin Latter

Kevin Latter

Senior Country Officer:
J.P. Morgan South Africa

Andre Ross

Andre Ross

Andre Ross

Investment Committee, Executive Director

Njabulo Ngubane

Njabulo Ngubane

Njabulo Ngubane

Investment Committee, Executive Director

Application Forms


I NEED SHORT-TERM FUNDING (less than 365 days)  FOR:
  • Purchase orders
  • Invoice purchasing
  • Short-term contract financing
  • Short-term capital  

 

I NEED MEDIUM- TO LONG-TERM FUNDING (365 days plus) FOR:

  • Operational expenditure
  • Working capital
  • Capital expenditure