R300m fund launched for emerging contractors

By Charmaine Ndlela

The Small Enterprise Development and Finance Agency (SEDFA) and the Construction Industry Development Board (CIDB) have launched a R300 million construction fund aimed at developing the construction sector and supporting emerging contractors.

The fund, which operates under the CIDB’s B.U.I.L.D Programme, is expected to assist qualifying construction micro, small and medium enterprises, particularly emerging CIDB-registered contractors struggling to access finance and growth opportunities.

ALSO READ: Durban gets high-tech vehicles for beachfront safety

The launch was held in Modderfontein, Johannesburg, on Tuesday.

Speaking at the launch, Small Business Development Minister Stella Ndabeni-Abrahams said many capable businesses continued to face challenges linked to limited funding, compliance requirements and a lack of technical support.

“The R300 million Construction Fund is not simply about financing projects, it is about advancing economic justice,” she said.

Ndabeni-Abrahams added that the initiative seeks to unlock opportunities for emerging contractors while helping build a more