Cash injection for female owned businesses

By Nangamso Mabindla
26 May 2008
BUFFALO City Executive Mayor Zintle Peter announced the eleven beneficiaries of her R5-million Women Empowerment Fund at the East London City Hall on Monday 26 May.
In last year’s State of the City Address Peter called on the municipality to increase by 10 percent the awarding of contracts to companies and co-operatives in which women have a majority stake.
At the event at the City Hall, the mayor said she was proud that the city council was able to fund these women owned co-operatives throughout the city.
“This is a day to rejoice because we now see light starting to shine in Buffalo City; we want to support women in their efforts to change the lives of people in their communities. As a municipality we want to assist in growing and sustaining the local economy,” said Peter
Since the announcement of the fund, the city has gone to its communities to look for ideas on how to spend the money for the benefit of women owned co-operatives and communities.
“During the Mayoral Imbizo last year I made a plea to our communities to submit ideas on how to spend the money; and today we are celebrating the results of that plea.”
In response to that call, the municipality received over one hundred submissions from various women’s programmes and organisations within the municipal area. To ensure transparency the city appointed a service provider to select the candidates that qualified for the fund. The winners of the fund came from the various wards around the city and are involved in agriculture, construction, crafts, hospitality, textile and other fields.
“What was of special interest to me about the submissions was the magnitude of women’s involvement in the broader social and informal sectors of our society; from agriculture to community services, construction, handicrafts, textiles, the catering and hospitality industry and general support services,” said Peter
She encouraged these initiatives to use the money wisely and contribute to the economic growth of their areas. She also urged them to share the expertise with their communities.