The vehicles have been provided to five micro-suppliers (SweepStars) from The SweepSouth Foundation (the government-approved SweepSouth Business Sanitisation service) from SDI (Supplier Development Initiatives), funded by FNB.
Many may be asking the question as to why funding has been provided for vehicles and not used to offer financial support to SweepStars to assist with their basic needs.
We recognise the need to offer financial assistance to SweepStars during these difficult times, and as such we launched The SweepStar Fund in March 2020. Together with the help of some amazing and very special sponsors, our internal team, clients and the public we have managed to raise R9 million* in efforts to continue to support SweepStars during these difficult and uncertain times. We are so immensely grateful to everyone who has assisted in supporting SweepStars!
However, this initiative has been created in an effort to promote and create micro-entrepreneurship, enabling the growth of micro-enterprises which further build the economy.
This initiative would not have been possible without generous funding from FNB. A portion of the bank’s R8 million donation has gone into hard assets such as these vehicles, helping to achieve the project’s main objective of giving these individuals the opportunity to grow their businesses without having to worry about monthly car repayments.