Interest-free loans to assist local economies near South Africa’s National Parks
In a game-changing move for local communities, Sanlam and South African National Parks (SANParks) are expanding their programme that offers interest-free loans to small businesses near national parks. After success at Kruger National Park, they're now extending this lifeline to entrepreneurs around the Garden Route and Addo Elephant National Parks in South Africa.
The initiative has doubled its funding to R20 million, aiming to empower more local people to start and grow businesses. In Kruger alone, 35 local entrepreneurs received nearly R8 million in support, with young people and women making up the majority of beneficiaries.
This programme is transforming lives by giving locals the means to tap into the tourism economy of nearby parks. By offering interest-free loans, it removes a major hurdle that often prevents small businesses from getting off the ground or expanding.
“We've seen what can happen when someone is provided with the financing to take their spark to a flame,” says Ray-Ann Sedres from Sanlam. The initiative is not just about individual success stories; it's about uplifting entire communities around these natural treasures.
SANParks' Skumsa Ntshanga emphasises how this approach strengthens the local tourism economy and aligns with their mission of inclusive growth. By supporting businesses within a 50km radius of the parks, they're ensuring that the economic benefits of tourism reach those who need it most.
Source: BizCommunity
