GEP Micro – Agricultural Finance (Mafisa)

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Organisation: Gauteng Enterprise Propeller

GEP and National Department of Agriculture concluded and signed a R30 million memorandum of understanding for the Micro – Agricultural Finance Institution of South Africa (Mafisa) programme.

In terms of the agreement between GEP and Department of Agriculture, Forestry and Fisheries, loans of around R500 000 per entrepreneur will be made available to agricultural SMMEs in Gauteng.
  • These loans will be given to SMMEs at a fixed rate of 8% interest.
  • GEP will work closely with the Gauteng Department of Agriculture and Rural Development who will provide technical input through agricultural economist and general advice on those areas of primary and secondary agriculture that are differentiators for the Gauteng province.
  • GEP will also provide non-financial support to those agricultural SMMEs so that they are professionally run as profitable entities.
  • GEP and GDARD will jointly embark on a marketing and awareness-raising campaign for the programme in Gauteng
The expected outcomes of the programme are as follows:
  • Effective and efficient agricultural finance system serving the needs of the target market namely: emerging farmers, farm workers and farm tenants, small and medium agri-businesses, land and agrarian reform beneficiaries, groups and individuals
  • Accessible, relevant and responsive financial services
  • Increased sustainable productivity in farming and agri-businesses
  • Increased equitable access to productivity and use of natural resources and technology
Benefits:
  • Gain valuable experience and knowledge
  • Subsidised and affordable rates
  • Information, advice and guidance on business issues
  • Access to skills and capabilities normally only available to big business
  • Personal service through our relationship managers
  • Better performance with limited own resources
  • Improved business efficiency
  • Free business tool and fact sheets on the GEP website
  • Aftercare services through relationship managers and mentors who will visit the business to offer advice or act as a sounding board
Qualifying Entrepreneur/Businesses:
  • Commercially viable enterprises managed by owner
  • Gauteng based entrepreneurs
  • Skills and/or experience relevant to the opportunity
  • Own contribution: depending on business affordability
  • Demonstrated commitment
  • Collateral commensurate with the risk
Documentation:
  • Business Plan
  • Projected and/or historical financial statements*
*www.gep.co.za
Offices – Gauteng
Application Process – Physical Submission

Contact Details

Website: http://www.gep.co.za
Telephone: 011 085 2001
Email:
Related Documents:
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