FNB has launched Vumela 4, a R200 million enterprise development fund aimed at supporting 150 SMEs and creating over 1 000 jobs. Established in 2009, the Vumela Fund targets black-owned SMEs that are too large for microfinance, but are unable to meet traditional credit or equity investment criteria. Vumela 4 aims to address two key challenges in the SME sector, firstly accelerating the growth of early-stage businesses, and secondly, supporting South African scale-ups in retaining founder ownership. FNB has reportedly faced strong over-subscription to Vumela, highlighting the demand for inclusivity in enterprise development.
