South Africa, with 141,500 social entrepreneurs, is addressing the country’s most pressing problems and contributing to the economy in the process. Sadly, however, about 70 percent said they had difficulty raising money because of a lack of networks, and 40 percent did not even know how to do so. In addition, their choice of business model may affect the amount of money they raise. Fetolar, a joint incubator of South African National First Bank, launched the 2021 Social Entrepreneur Impact Lab (SEIL) program.

The program will be divided into two stages: 

Stage 1: 12 months of business growth support and initial investment preparation support. 

Stage 2: 6 months of intensive investment preparation and accelerated growth. 

The program requires enterprises to meet the following conditions: 

1、Any enterprise in which black people own at least 51% of the management rights and the annual turnover does not exceed 10 million rand; 

2、Providing products or services with positive social influence; 

3、Having real growth potential, create employment opportunities and scale.