South Africa-based diamond producer De Beers Consolidated Mines has opened a business incubator in Cape Town to encourage entrepreneurship among historically disadvantaged and marginalised South African communities.
De Beers’ Marine Zimele Business Hub is its first incubator in Western Cape Province. It joins Zimele hubs already operated by the company in the Northern Cape, Limpopo, Gauteng and the Free State.
De Beers provides loans, mentoring and assistance to entrepreneurs through the programme in order to support them in establishing startups.
Barend Petersen, chairman of De Beers, said: “De Beers has supported many initiatives from historically disadvantaged, and often the most marginalised, people in South Africa.
“We are proud to have funded 233 new [small to medium-sized enterprises] in 2014, thereby creating 2,335 jobs in rural and regional urban areas with loans amounting to R60.7 million ($5.3m).”
– Photo courtesy of De Beers Consolidated Mines