MIC $16M Khulisani Fund Invites Black-Owned Businesses to Apply
TLDR
- The Mineworkers Investment Company (MIC) is calling for applications from black-owned businesses in South Africa to access funding
- With a ZAR300 million ($16.5 million) fund, MIC Khulisani Ventures aims to back early-stage businesses
- Applications for funding are open until January 31, 2025, with selected businesses receiving support starting in March
The Mineworkers Investment Company (MIC) is calling for applications from black-owned businesses in South Africa to access funding through its Khulisani Ventures fund. The initiative, launched in 2021, focuses on supporting innovative, high-growth enterprises across all sectors, excluding primary agriculture and extractive industries.
With a ZAR300 million ($16.5 million) fund, MIC Khulisani Ventures aims to back early-stage businesses that demonstrate scalability, innovation, and strong governance. The fund targets solutions that disrupt traditional markets, improve efficiencies, or creatively address South Africa’s challenges.
Applications for funding are open until January 31, 2025, with selected businesses receiving support starting in March. MIC, a 100% black-owned investment firm established in 1995, has a longstanding commitment to economic upliftment for mine, energy, and construction workers and their dependents.
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Key Takeaways
MIC Khulisani Ventures underscores the importance of targeted investments in South Africa’s black-owned businesses to drive economic inclusion and innovation. By focusing on disruptive, high-growth enterprises, the fund seeks to address systemic challenges and foster long-term economic resilience. With ZAR300 million allocated for investment, the fund prioritizes businesses capable of scaling and addressing inefficiencies across diverse sectors. The exclusion of primary agriculture and extractive industries reflects a strategic shift toward value-added services and technology-driven solutions. This initiative aligns with MIC’s broader mission to create sustainable wealth for underrepresented communities and supports South Africa’s economic transformation agenda. For black-owned businesses, Khulisani Ventures represents an opportunity to secure resources needed to innovate and grow.
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