One Linkage is proud to announce the successful disbursement of the first set of grant funding from the Industrial Development Corporation (IDC).
The IDC established the Post Unrest Business Recovery Fund to address the urgent need to assist companies and entities affected by the unrest and looting which occurred in July 2021 in order to protect the critical jobs and industrial capacity of South Africa.
In October 2021, One Linkage was appointed by the ICD to facilitate the distribution of funds to SMME’s who were affected by the unrest that took place in Gauteng and KZN in July 2021.
The grant focusses on both formal and informal businesses in affected townships. The funds have been distributed to businesses that require support for salaries, rent, stock, equipment replacement and other costs that will support the rebuild and ensure the sustainability of their businesses. The amounts disbursed so far range from just under R30 000 to just over R700 000.
To date, over R3.7m has been successfully disbursed to affected SMMEs across the following sectors:
- Automotive & Transport Equipment
- Food services
- Textiles & Wood Products
Of the businesses who have received funding, eight are 100% women owned and all are 100% black owned.
This grant disbursement programme forms part of the RiseUpSA initiative that was commenced by One Linkage in July this year and will continue to seek out and support affected businesses.
Companies affected by the riots are encouraged to apply.