Fast-moving consumer goods manufacturer Willowton Group and faith-based financial services provider Al Baraka Bank have partnered to launch a fund to assist small, medium-sized and microenterprises with loan funding. The companies have jointly contributed R100-million to launch the Giving for Hope fund, and aims to further grow the fund to R500-million with help from other corporates or the general public to assist SMMEs in preserving or creating jobs amid the Covid-19 pandemic.
Willowton is a South Africa-based company that manufactures and supplies products such as rice, soap, margarine, and spreads for retailers and individuals.