South Africa: FNB, IAAE launch new initiative to empower Black-owned SMEs
I Am an Entrepreneur (IAAE) in partnership with FNB has launched a new initiative called The Growth Code to empower Black-owned small and medium-sized enterprises (SMEs) that are poised for scale, investment readiness, and long-term sustainability.
Keitumetse Lekaba, managing director at I Am an Entrepreneur | image supplied
'The Growth Code is more than just a business development initiative. It is a growth accelerator for entrepreneurs who are already generating significant traction and are now looking to expand their footprint
"This bespoke programme combines financial support, sector-specific mentorship, and meaningful network access—equipping entrepreneurs with the tools they need to overcome structural and operational challenges associated with scaling,' said IAAE.
'Our commitment is to meet entrepreneurs at the point of their need,' said Keitumetse Lekaba, managing director at IAAE.
'The Growth Code is more than just a support system—it's a collaborative blueprint designed to help Black-owned businesses create meaningful impact, scale with precision, and build legacies that resonate beyond the present.'
Programme benefits
Through this programme, selected entrepreneurs will benefit from:
- Funding opportunities – Access to capital and financial instruments needed to fuel growth.
- Tailored mentorship and guidance – Personalised coaching from seasoned industry leaders and business strategists.
- Strategic networks and partnerships – Opportunities to build relationships with corporate partners, investors, and like-minded business leaders.
- Customised solutions – Targeted interventions and support to address operational, market, and strategic scaling challenges.
Eligibility criteria
Entrepreneurs interested in applying for The Growth Code must meet the following criteria:
- Be at least 51% Black-owned, as prescribed in the Financial Sector Charter issued in terms of the Broad-Based Black Economic Empowerment Act, 2013 (FSC).
- Be a Qualifying Small Enterprise (QSE) operating in high job-creation industries such as retail and manufacturing services. The business must be revenue-generating (whether profitable or not) and in need of scale.
- Operate under a business-to-business (B2B) model. Businesses with a business-to-business-to-customer (B2B2C) model may be considered on a case-by-case basis.
- Have been in operation for two or more years within South Africa.
- Have an annual turnover between R10m and R50m.
- Demonstrate good financial health.
- Demonstrate job growth potential.
- Demonstrate passion and resilience for business.
- Require access to growth finance.
- Consent to and pass necessary background checks.
Palesa Moeletsi, buiness development support manager at FNB:
'This partnership is about more than just financial support—it's about creating lasting, transformational impact. We believe that when Black-owned businesses are equipped with the tools, resources, and networks they need to succeed, they become powerful engines for innovation, job creation, and community development.'
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