Investment of R32m and a resignation at eNEWS
R32m to be invested in developing EC, FS and KZN entrepreneurs
The IDC and LCU-SA have partnered to stimulate and grow Social and Environmental Entrepreneurs in the Eastern Cape, Kwa-Zulu Natal and the Free State provinces. This expands our existing work in these provinces. R32m will be invested over three years. IDC has provided 80% of the capital and LCU-SA will provide 20%. LCU-SA is the implementing partner. Part of this capital will be invested in early stage development with schools, FET Colleges and Universities – in order to help find, fund and support young entrepreneurs. The general market will also be engaged as we seek existing, early-stage entrepreneurs to support. We thank the IDC (Agency Development and Support) for their partnership and investment.
About LifeCo UnLtd SA
LCU-SA develops critical thinking skills and purpose detection, and invests in people for enhanced enterprise and life performance. Our Vision: A sustainable nation of champions. Today LifeCo UnLtd SA is an established social enterprise, was placed among the 10 Most Trusted NGO’s in SA (Ask Africa, 2011), has 55 000 beneficiaries to date, and has benefitted thousands of young leaders and entrepreneurs nationally. LifeCo UnLtd SA is a founder member of the Global Social Entrepreneur Network with 51 member nations. As for sustainability, LCU-SA has more than 60 institutional partners and R110m in assets. A further R3m will be invested in our youth programmes across SA this year. LCU-SA is a social enterprise owned and governed by a trust.
On a personal note, with the growth of LCU-SA, I have decided to resign my role as a news anchor at eNews Prime Time. While I have loved my time with the eNews team for the last 10 years, growing the three new provincial centres will take time and energy and my first love has always been LifeCo, something that was first imagined as a naïve 23 year old teacher. I am now blessed to work full time with an extraordinary team at an institution that is driving social change in a sustainable manner.
Together we will co-create the South Africa we all want – driven by a nation of champions.