The R10 million Nedbank Indalo Energy Resilience Fund is designed to help small, medium and micro enterprises, nongovernmental organisations and public benefit organisations secure clean, affordable backup power.
By Lebogang Mashala, Editor at African Farming
Nedbank, in partnership with enterprise development organisation Indalo Inclusive, has unveiled the Nedbank Indalo Energy Resilience Fund, a R10 million pilot initiative designed to help South African small businesses, nongovernmental organisations (NGOs) and public benefit organisations (PBOs) secure clean, affordable backup power. The fund offers interest-free finance for solar systems, portable inverters and related infrastructure.
According to Poovi Pillay, Nedbank’s Executive Head of Social Impact, the initiative comes at a critical time. Although loadshedding has eased, energy instability and rising costs remain a major barrier to enterprise growth and community development.
“For entrepreneurs, small businesses and social organisations, the ongoing energy crisis is not just an inconvenience, it’s an existential threat to their very survival,” Pillay says. “You can’t grow a business, create jobs or serve a community if the lights are constantly going off – or if the high costs of keeping them on are eroding your bottom line.”
A survey by Nedbank and the Township Entrepreneurs Alliance found that 66% of township-based small, medium and micro enterprises (SMMEs) shed jobs directly as a result of load-shedding, and many others reported severe revenue losses or complete shutdowns during power cuts.
The Nedbank Indalo Energy Resilience Fund builds on the success of the existing Nedbank Indalo Fund, which offers concessionary finance and business development support to eco-inclusive enterprises in sectors such as water, agriculture, waste and renewable energy. Together, the two funds form a core part of Nedbank’s Green Economy Social Impact Strategy, which has supported more than 1 300 businesses and helped create more than 2 900 jobs since its launch in 2021.
Fund Will Protect Livelihoods And Speed Up The Shift To Cleaner Energy
Rest Kanju, Executive Director of Indalo Inclusive, says the fund will do more than just finance equipment. “We’re using finance, and the accompanying support we provide, as a catalyst to keep businesses productive, protect livelihoods and speed up the shift to cleaner energy,” he explains.
Indalo Inclusive will manage implementation, including enterprise selection, capacity building and technical support.
Outcomes such as energy savings, operational continuity, job retention and community benefits will be closely tracked. The fund is designed to be self-sustaining, with repayments used to support new recipients over time.
Qualifying SMMEs, NGOs and PBOs nationwide are invited to apply by visiting https://iisa.org.za/nedbank-indalo-energy-resilience-fund/
