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Enablis gets R1.5 million grant

3 Aug 2010

The Enablis Entrepreneurial Network in South Africa, a non-profit organisation (NPO) geared to leveraging and supporting entrepreneurial talent in developing economies, has received a R1.5 million grant in further support of local entrepreneurial development, capacity building and long term economic stimulation from its founding partner, FNB.

In a 2009 independent survey of the NPO's members in South Africa, conducted by Research in Action, found that despite the global market recession 72% of Enablis members reported steady or increased turnover last year. This is the fifth consecutive year running that Enablis Entrepreneurs have reported marked increases. Amongst other results, 71% of Enablis members reported steady or increased profits, 38% have created new businesses and 26% extended their products or services since 2008. The survey also demonstrates that 6536 new jobs (10.2 jobs per member) have been created since 2005 because of the success of Enablis Entrepreneurs.

With the support of local donors and strategic partners such as FNB, the NPO is able to nurture and develop aspiring entrepreneurs through capacity building, networking, skills development and funding support, as well as maintaining steady growth in BEE.