First National Bank (FNB) has been confirmed the winner of Gauteng’s R95 billion centralised banking tender on condition it pledges R200 million to support township enterprises. This brings to the end the open tender pilot projects.
Barbara Creecy spoke to John Robbie explaining that some of the the conditions for the awarding of the tender is paying for 200 000 staff every month and paying for goods and services.
FNB has indicated that they will make an initial investment into township enterprise through their Vumela Trust - to identify start up enterprises that need support. This programme will be extended to 20 more projects across the country.
Listen to the full conversation below: