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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. 

Fetola Circular Economy Accelerator

Fetola are business growth professionals specialising in the acceleration of small and growing businesses (SGBs), especially those owned by black women, youth and rural entrepreneurs. Fetola provide proven solutions in enterprise and supply chain development, SMME support and job creation, skills training, and use robust performance management and impact reporting methods to ensure lasting success. Fetola’s products and services are tailored to the South African SME landscape, and include practical business-skills workshops, tutored e-learning, business incubator establishment and support, and national mentorship and mentor management.

Fetola’s Circular Economy Accelerator (CEA) is a unique initiative to support the growth of organisations that are tackling pressing economic, social and environmental issues in South Africa. Implemented by Fetola with the support of J.P.Morgan, the Embassy of Finland and others, the programme is purpose-built to help circular economy and sustainability-focused entrepreneurs access new opportunities for growth, bolster their skills, develop their product or service, refine their model and improve their attractiveness to potential investors and funders. Click here to apply by 16 February 2022. 

 





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

Makhotso Ramphele

Makhotso Ramphele

Makhotso Ramphele

Vice President, Securities Services

Mangaliso Dlamini

Mangaliso Dlamini

Associate, Equity Research

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