In a bold move to reshape South Africa’s economic landscape, the Imara Artisan SMME Fund has officially launched. Spearheaded by NPO Allan Gray Makers in partnership with ESquared Investments, the fund looks to empower the nation’s unsung heroes: artisan entrepreneurs.

Prosperity Mukhari, founder of construction Wikongro, was one of the recipients of the Imara Growth Fund. Living up to her name, she started her construction business after working as a petrol attendant and overcoming unemployment.

“At Wikongro, we specialise in electrical and construction services such as building and plastering. As a young businesswoman, this initiative has brought in a lot of security for me and my business. It gives me a big sense of relief to know that I have some form of financial backing through this fund.”

The 33-year-old's business had only been going for a month when the Covid-19 lockdown hit but she was able to keep her team of eight workers together despite the economic turmoil.

When asked how important funding is for artisans such as herself, Mukhari explained that investment is a fundamental means for businesses to grow.

“We would love to see more investors coming in to invest in local businesses. Artisans generally love from hand to mouth so a growth fund such as this provides sustainability and financial growth for artisanal entrepreneurs. What this means for us, is that we are moving to the maturity phase of our businesses where we are able to expand, hire more and get to a point where our businesses are able to run for themselves,” said Mukhari.

This fund targets the R300 billion funding gap stifling small and medium enterprises (SMMEs) in critical artisan trades, from construction to hospitality. The initiative now calls on more investors to fuel a movement that blends profit with purpose, aiming to transform 20 000 artisan micro-businesses into engines of job creation and community upliftment.

Prince Nwadeyi, co-founder Setana Capital said at its core, funding should be directed to the people who need it the most and this fund couldn’t be more fitting.

“With a fund such as this, it shows that something is shifting fundamentally in terms of how SMMEs get funded, in particular, artisanal SMMEs in the country, as they play a critical role in terms of driving development and growth. This is the seed and something transformational, not just in our country but the continent at large,” said Ndwadeyi.

The fund introduces South Africa’s first financing model tailored to artisans’ unique challenges:

Asset Rentals: Partnerships with providers like leading Building Supply Retailers will enable SMMEs to rent essential tools and equipment without upfront cash requirements.
Material Financing: Artisan entrepreneurs can access materials needed for projects through channel partners without immediate payment obligations.

Invoice Discounting: SMEs will receive liquidity immediately after completing projects instead of waiting 45-90 days for payment from clients.

Programme Director at Allan Gray Makers, Seth Mulli, emphasised that the growth fund initiative is more than just a financing tool: “With this initiative, we are financing dignity.”

“Artisans don’t just build homes and roads, they build dreams. But when they are denied fair access to capital, their impact remains shackled. IMARA isn’t merely financing tools; we’re financing dignity. Every rand invested becomes a brick in South Africa’s foundation of inclusive growth.”

Echoing this sentiment, Gladwyn Leeuw, CEO of Esquared Investments, added:

“True economic transformation begins when we rewrite the rules of access. IMARA dismantles barriers, turning artisans into employers and local businesses into regional powerhouses. This is how we bridge divides, one hammer, one invoice, one opportunity at a time,” said Leeuw.