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2.4 million euro for social entrepreneurship in South Africa

2.4 million euro for social entrepreneurship in South Africa

The Government of Flanders today announced its support to a project managed by LifeCo Unlimited South Africa. The funding will comprise a total of 2.4 million Euro over the next 3 years.

 
LifeCo Unlimited South Africa's objective is to strengthen the ecosystem for social enterprises in order to stimulate growth and to create jobs. LifeCo Unltd bridges the gap between social enterprises and potential investors through providing guidance to management and by the establishment of a social venture capital fund. The Flemish support will go towards encouraging and developing social enterprises in the country.


Minister-President Geert Bourgeois commented: "In the Country Strategy paper drawn up between Flanders and South Africa for 2012-2016, we agreed to focus on job creation through the development of SMEs. South Africa is an emerging market with great potential. With this project, we can convert that potential into decent work for the weakest in society."


For more information on LifeCo Unlimited, see: http://www.lcu-sa.com/


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