Barloworld launches R20 million BEE fund.

[Dave A]

Barloworld has launched a fund aimed at enterprise development and sustainable broad-based black economic empowerment.

I was a little suprised when, as a corporate, they were present at the consultation on the SME BEE codes. The only corporate there, in fact.

There are a couple of points in this story that are pretty interesting:

Barloworld aims to make a considerable contribution to the process of transformation, job creation and skills transfer in South Africa through partnerships and investments in emerging SMEs.

"The creation and development of SMEs has been proven time and time again to be the most logical and effective method of bridging the economic divide and building sustainable wealth in many countries. The time has come for Barloworld to make a visible difference."

The fund will provide affordable, accessible knowledge and funding to potential black investors as well as to existing companies seeking to achieve sustainable transformation.
extracts from Business Report here

It's encouraging that a giant like Barloworld acknowledges the importance of the smaller enterprise in bringing about meaningful economic change.

But I wonder, in our world of couched terminology, exactly what their definition is of "existing companies", though?