Nov. 18, 2011
-- Zimele, Anglo American’s enterprise development arm, launched its fifth fund, known as the Green Fund, to help create a real difference to South Africa’s environmental sustainability and green economic growth. Anglo American has committed an investment amount of R100 million to the Green Fund, which aims to empower and encourage entrepreneurs to operate in the green economy. The Fund will target investment opportunities that mitigate carbon, reduce energy and water consumption, and improve waste and emissions management.
The Fund will focus on developing and funding Small and Medium Enterprises (SMEs) that promote and develop environmentally sustainable projects. Subsequently, this will enable communities to both respond to key environmental challenges such as climate change and water security, and take advantage of opportunities in the green economy. It will also create another platform for talented entrepreneurs and SMEs.
Zimele has already realised considerable success through its four established Funds, namely, the Supply Chain Fund, the Anglo American Khula Mining Fund, the Communities Fund, and the Olwazini Fund.
Through these four funds, since 2008, Zimele has provided R530 million in funding, supported 1,001 companies, completed 1,355 transactions, and its underlying investments employ 18,783 people, and these businesses achieved a collective annual turnover of R1,9billion.
Managing Director of Zimele, Nick van Rensburg, says that the Green Fund demonstrates Anglo American’s commitment to the environment. “Our aim is to operate in a safe, responsible and sustainable way by minimising our environmental impact and taking advantage of opportunities that deliver long term benefits to our stakeholders.”
“The Green Fund is an essential part of this strategy, as it will facilitate new investments in projects which yield both environmental and economic benefits, and encourage a greener way of thinking among the South African public.”