South Africa: How Sasfin and RBN Jobs Fund partnership will boost lending to SMEs

By Xolisa Phillip, in Johannesburg

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Posted on April 28, 2023 14:55

 © Africa, South Africa, Cape Town, the port with commercial centre
Africa, South Africa, Cape Town, the port with commercial centre

Sasfin and RBN Fund Managers’ R85m ($5m) jobs initiative is a win-win, as it marries principles of purpose-led capital by creating affordable finance for small business, an underserviced market, says Sasfin Wealth CEO Erol Zeki.  

“We are looking to create around three jobs per R1m we disburse in loans,” RBN Fund Managers CEO Heather Jackson tells The Africa Report.

Sasfin Asset Managers and RBN Fund Managers are working together on the National Treasury Jobs Fund, a two-year, R85m initiative that aims to offer blended finance solutions for small and medium enterprises (SMEs) and support job creation.

The R85m grant comes from the treasury’s R9bn Jobs Fund, which was established in 2011 to co-finance employment opportunities in the public, private, and non-governmental sectors.

The grant will serve as a guarantee of R360m in matched funding from Sasfin and institutional investors. This will then be used to establish an enhanced credit fund that is forecast to generate 1,200 permanent jobs and 320 short-term or temporary jobs.

“The amazing thing about this structure, and the grant from the Jobs Fund, [is that]

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