The Zenzele Entrepreneurial Fund (ZENFUND) is a Revolving Fund that will promote economic self-sufficiency for women in South Africa and other African countries by providing micro-credit in the form of interest-free loans to grassroots agencies working with:

a. Women attempting to flee situations of abuse and violence;
b. Women in post-conflict areas;
c. Women attempting to flee situations of violence by becoming economically self-sufficient;
d. Women who are living with HIV/AIDS and may be homeless as well as without resources;
e. Women and children living in poverty in post-conflict areas of developing countries.

By financing aspiring entrepreneurs through the ZEN Fund, we will:

  • Enable women to become economically self-sufficient through the funding of self-employment projects and the promotion of women-owned business
  • Work in partnership with local co-operatives and agencies, to provide micro-credit to qualified participants in their programs
  • Support safe, healthy families, self-reliance, self-sustainability, strong group dynamics and the relief of poverty through economic empowerment
  • Assist the remarkable efforts of various groups of People Living With HIV and AIDS, courageous men and women who have openly declared their status and assist ORPHANS and other AIDS-affected children in every possible way.

How the Fund will work

  • All local African Agencies who commit to the receipt of funding from Zenzele will sign a Memorandum of Understanding (MOU) with our organization
  • The MOU describes the terms of the loan amount made to the women and administered by the Agency that undertakes to manage the loans
  • The administrative /operational requirements, our oversight obligations as Funders, and their management obligations are clearly specified
  • By signing the MOU, recipients agree to submit written progress reports every three months. The first instalment of funds is contingent on a formal written proposal from the applicant Agency. Subsequent instalments are conditional on satisfactory progress as verified in the quarterly and annual written reports
  • All South African Agency managers/administrators agree to submit written progress reports to the Canadian partner every three months after receipt of funding disbursement in addition to the annual report
  • In the fifth year, there an in-depth Project evaluation of the initiative will take place. Recommendations for continuation and/or adjustment of the terms of this agreement will be made
  • Full/complete financial and allied records of the transactions undertaken in the name of the Zenzele Women’s Opportunity Fund will be kept at the head office in Toronto, Canada

Healthy families create healthy communities. Zenzele promotes the growth and development of the poorest communities by empowering women —through various economic, health, education and training programs— to create viable social supports and sustainable incomes. Zenzele provides the tools to build a better future for women, their children and society as a whole.

To download a short presentation on Zenfund, CLICK HERE.