18.6 C
Johannesburg
Sunday, May 19, 2019
Home Breaking News Telkom invest R100m into enterprise, supplier project

Telkom invest R100m into enterprise, supplier project

By Staff Writer

South Africa’s fixed-line telephone group Telkom on Thursday announced an investment of more than R100 million in enterprise and supplier development with the launch of its FutureMakers programme.

FutureMakers focuses on driving innovation in the ICT sector by growing access to technology and by offering long-term support to its beneficiaries.

“We want to enable, empower and inspire entrepreneurs to stretch their ambitions and make their business visions a reality,” said Telkom CEO Sipho Maseko. “By growing entrepreneurial opportunities within ICT, we can create jobs, improve access to technology and develop a stable and competitive supply chain. FutureMakers serves the national vision for broadband and ICT development, while also supporting our own enterprise and supplier development (ESD) objectives,” Maseko said.

Minister for Small Business Development, Lindiwe Zulu applauded Telkom for this initiative. “We hope other corporates will emulate Telkom’s example of giving practical expression to the national agenda of building strong and sustainable small businesses and co-operatives that will be engines of economic growth and job creation.”

Through the FutureFund, Telkom is making an initial investment of R100 million to extend financial support to SMMEs that supply Telkom or that work within the broader ICT sector.

This funding will be in the form of working capital, loans and equity. Identity Development Fund managers have been appointed to manage the fund on behalf of Telkom.

Telkom is also investing in local suppliers and partners as well as potential suppliers, third party distributors, internet cafes, and innovative ICT start-ups by helping them to become more competitive, through the FutureSource initiative.

Business incubation services – or FutureHubs – form an integral part of the FutureMakers strategy.

Telkom is also investing over R5 million in upgrading a co-working and incubation space in Tshimologong Precinct, Braamfontein, which will be ready in November this year. Tshimologong will be Gauteng’s first business incubator for the ICT industry. It will provide Johannesburg ICT entrepreneurs with access to broadband connectivity, mentoring and other incubation support.

Partnerships, in the form of the FutureProof initiative, form the fourth pillar of the FutureMakers strategy.

 

  1. Hi ,my name is Engelinah Gama , my company name is LinahAfrica Manufacturing and Projects (Ltd)
    It is a 100% black woman owned company. It is a Level 1 BEE .
    I would like to join FutureMakers .I would like to have the Internet Cafe to provide Telkom products
    to customers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

South Africa’s Aerobotics Named Most Innovative African Startup

Every entrepreneur wants to see their company being named as the most innovative African startup. It's a great feeling and comes with benefits too. What is...

Discovery Is The World’s Second-Strongest Insurance Brand

Discovery, SA's largest health-insurance administrator, has been named as the world's second-strongest insurance brand. Every year, leading valuation and strategy consultancy Brand Finance values the...

Telkom Connects Soweto School To The World

A high speed, quality fibre connection, provided by Telkom, is set to make a big difference in the lives of learners of Orlando High School...

SARB Wants To Explore The possibility Of A ZAR-Backed Digital Currency

The South African Reserve Bank (SARB) is investigating the feasibility, desirability and appropriateness of central bank issued digital currency to be used as an...

Why Parents Should Think Twice About Tracking Apps For Their Kids

by Joel Michael Reynolds The use of self-tracking and personal surveillance technologies has grown considerably over the last decade. There are now apps to monitor...