MIC’s Investment Initiative to Drive Innovation and Economic Growth
The Mineworkers Investment Company (MIC), a Johannesburg-based investment firm with a 30-year history of supporting community-driven economic projects, is encouraging Black-owned businesses to apply for funding through its Khulisani Ventures fund.
About MIC and Khulisani Ventures
Established in 1995 by the Mineworkers Investment Trust (MIT), MIC is a fully Black-owned investment company dedicated to creating sustainable assets for mine, energy, and construction workers and their families.
In 2021, MIC launched Khulisani Ventures, an early-stage investment fund focused on high-growth, innovative, Black-owned businesses across South Africa. The fund aims to foster economic transformation and support groundbreaking solutions that address local challenges.
Key Features of Khulisani Ventures
- Funding Allocation: ZAR300 million (US $16.5 million) dedicated to early-stage investments.
- Focus Areas: Innovative businesses offering cutting-edge products or services that disrupt markets, enhance productivity, or address pressing issues in South Africa.
- Sector Exclusions: Primary agriculture and extractive industries are excluded.
- Eligibility: Black-owned businesses with strong governance, scalability, and innovation potential.
Application and Funding Timeline
Applications are open until the end of January 2025, with funding disbursements expected to begin by March 2025.
Supporting Black-Owned Innovation
Khulisani Ventures underscores MIC’s commitment to driving economic empowerment and fostering a thriving ecosystem for Black entrepreneurs. By targeting high-growth businesses, the fund seeks to uplift historically marginalized communities while stimulating innovation and economic progress.
