A unique public/private partnership between the provincial government of KwaZulu-Natal and Deloitte will kick-start business initiatives across the province and also provide impetus for job creation in urban and rural areas.
At the heart of the partnership between Deloitte KZN, Provincial Treasury and the Department of Economic Development and Tourism is a ‘Funding Fair’ that will open face-to-face contact between project promoters, entrepreneurs, business development bodies, venture capital and private equity investors and debt funders.
MEC for Finance, Ina Cronjé, said the idea of hosting an “annual” funding fair was born because of the disjuncture that seemingly exists between the demand and supply for funding and especially development funding. She further said there is perception that there is very little funding available, yet on the other hand, there are many funding agencies that are looking for projects.
“The Funding Fair, which will take place during April 2013 over two days, will be aimed at facilitating access to the significant amounts of funding that is available annually from a broad range of organisations for business development,” says André Pottas, Deloitte Corporate Finance Advisory Leader. “The traditional problem for entrepreneurs in KZN has been in identifying these organisations and then fulfilling onerous application requirements. The ‘Funding Fair’ will hopefully remove some major obstacles and act as a catalyst for provincial business and economic growth.”
“The concept is simple. Potential funders and entrepreneurs will be brought together in April 2013. Entrepreneurs, who will have undergone an initial selection process, will each be given 15 minutes to submit their business propositions and funding requests to a panel representing the major funding bodies. Where individual funders and investors like the initial pitch, they will be able to arrange follow-up one-on-one meetings with the project promoters concerned on Day 2 of the event. The overriding aim will be to ensure that where financial assistance is granted, jobs will be created,” says Pottas.
Guy Brazier, Managing Partner, Deloitte KwaZulu-Natal concludes by saying, “The concept is simple and effective. If the funders attending are introduced to projects that appeal to them, the benefits for the people of KZN could be significant. The intention is for the Funding Fair to become an annual event in KZN.”
For further information on the KZN Funding Fair, visit www.kznfundingfair.co.za
Enquiries:
Portia Gibbs
Magna Carta (PR)
Cell: 011 784 2598
E-mail: portia@magna-carta.co.za
Kerry Naidoo
Senior Manager: Communication
Deloitte & Touche
Tel: 011 209 8630
E-mail: kenaidoo@deloitte.co.za
