Daily Insider: Kisby SME Fund to help SA’s job creators

Soon after Covid-19 changed our world, some innovative financial experts launched the Kisby SME Fund with the splendid intention of providing low-cost loans to high quality small and medium sized enterprises. 

The news was followed by literally thousands of hard-pressed entrepreneurs applying. Since then, co-founders Mark Barnes and Warren Wheatley knocked on many doors to enlist funding support from institutional investors. Most were hesitant, preferring to Kisby actually working before committing. The classic chicken and egg. 

Yesterday, however, Kisby officially opened its doors. Some 350 applying entrepreneurs have been pre-qualified and Wheatley has emailed each of them asking for more details. He says R250m is in Kisby's bank account and the money will start flowing to the first loan applicants from March. Click here to hear our interview where he provides details.

Here's hoping on-the-fence institutional investors also come aboard and swell the fund to beyond the R5bn Wheatley is targeting. After the damage wrought by lockdowns, SA's job creators need all the help they can get. 

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