On the 25th of September, the Family Tree and the Kathorus shop owners association gathered to provide updates on the Kasi Mnotho Fund and clarify several points
regarding its operations, funding requirements, and the current status of application approvals.
The Chairman of Family Tree Holdings and the Chairperson of the Kathorus Shop Owners Association mentioned that the cause of the day was to reaffirm their commitment to supporting township and rural economic development, as well as the growth of Small, Medium, and Micro Enterprises (SMMEs) in these areas.
“At Family Tree Holdings, we are proud of the initiatives we have spearheaded to assist township businesses, including the Kasi Mnotho Fund, which has been a key driver in our mission to empower local entrepreneurs. The R100 million allocated to the Kasi Mnotho Fund remains intact, and applications for funding are still being processed,” said Sipho Mthembu the chairman of the Family Tree Holdings.
He further said It is important to acknowledge that the delays in the approval of some applications are due to necessary reviews of the funding criteria. These adjustments are aimed at making the funding process more accessible and efficient for their beneficiaries.
“We are committed to ensuring that the fund serves its purpose by reaching deserving businesses while maintaining the highest level of transparency and accountability.”
In terms of the application process, businesses seeking funding from the Kasi Mnotho Fund are required to meet specific criteria designed to ensure that they are eligible and prepared to benefit from the financial support offered. This includes demonstrating compliance with local regulations, a sustainable business model, and a clear plan for how the funds will be utilized to drive growth.
“While we understand that delays can be frustrating for applicants, these reviews are
necessary to safeguard the integrity of the fund and ensure that it is administered
effectively. We are continuously working on streamlining the application and approval
process to reduce waiting times and improve communication with applicants,” he said.
Family Tree Holdings has also worked to facilitate access to stock and other resources through distribution centres, where beneficiaries can access stock once their loan applications are approved.
“It is important to note that we do not act as direct suppliers, but rather create platforms for businesses to access the goods they need to operate successfully.
Similarly, the Kathorus Shop Owners Association continues to advocate for the needs of spaza shop owners and other small businesses in the area.
“We are committed to providing training, support, and opportunities that will help our members thrive in the competitive business environment. Our association operates transparently, with a constitution that guides our activities and ensures that we uphold the interests of our members,” added Mthembu.
He continued to say, looking ahead, that their primary goal is to ensure that the Kasi Mnotho Fund continues to uplift township businesses.
“We will keep working closely with all stakeholders to address any challenges and ensure that the fund reaches as many entrepreneurs as possible.
We encourage ongoing dialogue and collaboration as we work towards creating a
thriving entrepreneurial ecosystem,” he ended.
By Simphiwe Nkosi
