In 2011, Zimele provided R971 000 in funding to siblings Stephen and Johannah Dinokana which they used to purchase materials and pay salaries. This was to service an order for R9m from Bafokeng Rasimone Platinum mine to build storm water channels and concrete work. The loan has been fully-repaid.
Besides providing funding, Zimele has also been instrumental in offering advice and serving as business mentors to the Dinokana siblings.
Stephen elaborates on the difference that the funding has made to the community.
“Zimele’s funding and support has proved crucial in enabling our company to get off the ground, and achieve our business goals. More importantly, Zimele has allowed us to make a real difference by building durable houses in the area, and creating numerous jobs for the Bafokeng community at large.”
Since 2007, Buck & Nicks Construction have employed more than 80 people in the area, including a large number of women who were previously unemployed. The housing has also proved to be a great boost for a burgeoning community which is urgently seeking quality housing options.
Dinokana adds that the siblings ultimately intend to replicate the level of success achieved by large construction companies.
Since its formation in 1989, Zimele’s unique approach to enterprise development has realised great rewards. From 2008 to the end of 2011, its four funds have provided R567 million in funding, supported 1,085 companies, and completed 1,481 loan transactions. Further, the funded businesses employ 19,575 people, and achieved a collective annual turnover of R2,4 billion.
Zimele acting Managing Director, Dr Lia Vangelatos concluded that Buck & Nicks Construction epitomises the real and impactful difference that Zimele is able to cultivate.
“Zimele understands that supporting small and medium enterprises that are aligned with our strategic goals is one of the best ways to tackle and eradicate poverty. Undoubtedly, our support of Buck & Nicks Construction is consistent with this goal, and is subsequently improving the short and long term socio-economic conditions of people in the Bafokeng area.”
For further information, please contact:
Hulisani Rasivhaga, Media Relations
Tel: +27 (0)11 638 4401
Notes to editors:
Anglo American is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe. www.angloamerican.com
About Anglo American Zimele
Since 1989, Zimele has successfully empowered numerous black Small and Medium Enterprises (SMEs) and entrepreneurs, and generated sustainable job creation and socio-economic development in predominantly peri-urban mining communities.
Zimele enables the companies it invests in to stand on their own feet and to grow, through a strategic blend of financial support and incubator-style mentorship.
This is achieved through four funds which provide business opportunities, training, capital and networking hubs for historically disadvantaged South Africans (HDSAs) and SMEs. These funds are the Anglo American Khula Mining Fund, the Supply Chain Fund, the Community Fund and the Green Fund