Congratulations to our three small business recipients of preferential loans, as the final outcome of the 2020 Business Accelerator Programme.
Twenty Small/Medium Enterprises (SME’s) were selected to participate in the Durban Chemicals Cluster programme kicking off in December 2020. A 3-day Dragon’s Den event saw participants undergo a rigorous training and preparation phase, culminating in an exciting pitch to Dragon’s and funders NCS Resins, Ferro Coating Resins and Ferro Dispersions.
The five finalists received seed funding for their businesses and went on to a business coaching phase. With the support of a mentor, business plans were developed to secure funding for growth.
The DCC, together with our partners and funders, is proud to announce the award of preferential loans to the total value of R1.6million to the following 3 recipients:
Rocky Brands – Rishav Juglall: For the purchase of additional bottling equipment to introduce a new product line
BAP South Africa – Cedric Hlongwa: To supplement tooling for increased efficiency of pallet production
Bantek Engineering – Bandlelihle Tikayo: To purchase important machinery for steel fabrication
The DCC, as well as NCS Resins, Ferro Coating Resins and Ferro Dispersions wish to congratulate the loan recipients and look forward to partnering with these firms as developing suppliers to South Africa’s manufacturing sector.