FNB launches R200m Vumela fund to grow small businesses
By Zuko Komisa FNB has launched a R200m Vumela fund to grow small businesses. The fourth Vumela fund, worth R200 million and established on Tuesday by big four bank FNB, intends to provide alternative financing to 150 black-owned firms and generate 1 000 employment. The commercial banking division of FNB created the Vumela Enterprise Development Fund in 2009 in collaboration with the venture capital and private equity firm Edge Growth. […]