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Iqraa Trust SA/SANZAF Empowerment Fund
Durban-Kwazulu-Natal - R 400 000

sanzaf

 

 

 

 

 

 

 

 

 

 

 

 

 

Pictured left to right: Mr Hussein Asmal, Mr AS Moola, Mr Iqbal Sabat and Dr MY Baker

The Iqraa Trust SA/ SANZAF Empowerment Fund is a direct response to the urgent need of promoting economic empowerment in South Africa at the grass roots level. “There are many skilled persons who lack the business skills and financial resources to establish and operate businesses on a sustainable basis. The new project will provide skills-training in the fields of computer literacy, hotel management, sewing, and general administration for unemployed and poor individuals living in South Africa,” said Mr. Mahmoud-Youssef Baker, Chairman of Iqraa Trust SA.

A contribution of R400 000 in Zakah between the two parties (SANZAF and IQRAA Trust SA) will serve as seed funding, and the fund will be replenished continually so as to assist a larger number of deserving individuals.

"A key element in entrepreneurship development is equipping the entrepreneur with the necessary business skills and providing him/her with the financial resources to enable his/her business to succeed. SANZAF will identify and recommend at least 50 potential candidates for the 3-month Entrepreneurship Training and Development Programme it has developed. Financial support will be provided to qualifying candidates to enable them to start their own businesses. Ongoing support (information, guidance and mentoring) to businesses funded through the project will continue to be extended for at least 9 months after completion of the training course," said SANZAF KZN Director, Mr. Husein E. Asmal.

Both SANZAF and Iqraa Trust are actively involved in education and training; and have established bursary and loan funds to assist deserving students. In the implementing of Iqraa Trust's strategy, considerable importance is placed on partnering with other organisations. The formation of such partnerships enables Iqraa Trust to implement a wide range of humanitarian projects successfully.

 

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