KwaZulu-Natal Premier Thamsanqa Ntuli. | Supplied
Durban — Fresh from launching the R100 million Youth Empowerment Fund, the Premier of KwaZulu-Natal Thamsanqa Ntuli will launch the much-needed Women Advancement Fund at the Inkosi Albert Luthuli International Convention Centre in Durban on Friday.
Ntuli in his maiden State of the Province Address in July, said that he would create a fund that would assist women-led businesses within the first 100 days in office.
Ntuli said the Government of Provincial Unity (GPU) was making significant strides towards advancing the lives of women and putting them at the forefront of the economic mainstream.
“The KZNWAF is a pioneering initiative designed to empower and support women entrepreneurs in the province by addressing the unique challenges they face in business, such as lack of funding, limited support, gender bias, and access to markets, which all result in exclusion from the mainstream economy,” he said.
The fund would give women-led businesses the much-needed shot in the arm by providing them with financial resources, mentorship, and business development services.
“We are excited to be launching this fund, which is led by the Office of the Premier and is a result of engagements with the private sector and leading women who saw a need to empower and develop other women. We appreciate the partnership between government and the private sector,” said Ntuli.
The partnership, said Ntuli, would support the government’s vision of ensuring that women did not remain “disenfranchised, but they become active participants in our economy”.
He added: “This launch will provide a platform to connect visionary women entrepreneurs with corporate and government leaders, promoting long-term investments, collaboration, and innovation. It will be held under the theme “Igniting Her Future: A Catalyst for Economic Empowerment.”
Various women entrepreneurs were expected to discuss their business journeys through a panel discussion. About 15 women-owned businesses chosen from across the province will exhibit their products.
Meanwhile, earlier this month, Ntuli announced that applications to the R100m Youth Empowerment Fund had been opened. He had announced during his swearing-in ceremony in June that he would be creating the fund to cater for youth-led businesses.
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