Phakamani Impact Capital hits R1bn milestone: Powering SMMEs, jobs, and community growth

In September, Phakamani will mark a historic milestone – R1bn in funding facilitated for South African small, medium and micro enterprises (SMMEs) since its inception. The achievement is more than a financial benchmark: it reflects Phakamani’s long-term commitment to growing resilient entrepreneurs, supporting mining-linked communities, and transforming South Africa’s economic landscape through enterprise and supplier development (ESD).

The celebration event will take place on 19 September 2024 at The Garden Venue, Northriding, bringing together industry leaders and several handpicked SMMEs who will showcase their growth stories. These businesses, all supported by Phakamani’s funding and development programmes, demonstrate the real and lasting impact of meaningful ESD on job creation, community development, and local economic participation.

From compliance to real impact

Nick van Rensburg, co-founder and CEO of Phakamani Impact Capital

Over the years, ESD has often been criticised for being a compliance-driven exercise that fails to generate lasting opportunities for black-owned and community-based businesses. Phakamani has been determined to change that narrative.

“Too often, enterprise development is treated as a tick-box activity. We’ve taken a different approach – one that combines patient capital, mentorship, and market access. A billion rand later, the proof is there: SMMEs supported by Phakamani are not only surviving, but thriving, hiring, and building the foundations of generational wealth,” says Nick van Rensburg, co-founder and CEO of Phakamani Impact Capital.

Phakamani’s impact has reached deep into mining-linked communities where opportunities are scarce and unemployment levels are among the highest in the country. By supporting entrepreneurs with both funding and practical development support, Phakamani has helped build businesses that now employ dozens – and in some cases, hundreds – of local people.

“Every rand we’ve unlocked has had a multiplier effect. That R1bn has translated into thousands of jobs sustained, families supported, and local economies revitalised. When you stand face-to-face with the entrepreneurs and their employees, you see what transformation really looks like,” says Van Rensburg.

Celebrating the entrepreneurs

At the September event, a selection of thriving SMMEs will showcase their products, services, and journeys – giving guests and media the opportunity to engage directly with the people behind the statistics. Their stories span industries from construction and engineering to services and technology, but all share a common thread: Phakamani’s support has been catalytic in helping them scale, compete, and create meaningful impact in their communities.

The afternoon will be emceed by Gugulethu Mhlungu, renowned broadcaster, journalist and author, who will guide the programme of reflection, celebration and fine-dining.

Looking ahead

For Van Rensburg, the R1bn milestone is not the finish line – it’s the foundation for the next chapter.

“We’re proud of what we’ve achieved, but we know the work is far from done. South Africa’s unemployment crisis remains urgent, and SMMEs are the most powerful lever we have to turn the tide. Our next billion must reach even further, into more communities, more sectors, and more lives. That’s the legacy we’re building at Phakamani,” he says.

Event details