FNB and IAAE Launch ‘The Growth Code’ to Boost Black-Owned SMEs in South Africa

In a bold move to bolster Black-owned small and medium-sized enterprises (SMEs), First National Bank (FNB) and I Am an Entrepreneur (IAAE) have unveiled The Growth Code—a powerful new initiative aimed at accelerating the growth of high-potential businesses in South Africa.

This strategic partnership is not just about financial support. According to Keitumetse Lekaba, managing director at IAAE, “The Growth Code is more than just a business development initiative. It’s a growth accelerator for entrepreneurs who are already generating significant traction and are now looking to expand their footprint.”

The initiative is designed to support Black-owned SMEs that are poised for scaling, investment readiness, and long-term sustainability. Through a mix of funding, mentorship, and strategic partnerships, The Growth Code offers selected businesses the tools they need to overcome operational barriers and unlock new levels of impact.

Programme Benefits:

Entrepreneurs selected for the programme will gain access to:

• Funding Opportunities: Access to capital and financial instruments to drive growth.

• Tailored Mentorship: Personalised coaching from experienced business leaders.

• Strategic Networks: Linkages with corporate partners, investors, and peers.

• Customised Business Support: Targeted interventions for market, operational, and strategic scaling needs.

FNB’s Palesa Moeletsi, Business Development Support Manager, said:

“This partnership is about more than just financial support—it’s about creating lasting, transformational impact. We believe that when Black-owned businesses are equipped with the tools, resources, and networks they need to succeed, they become powerful engines for innovation, job creation, and community development.”

Who Can Apply?

To be eligible for The Growth Code, businesses must:

• Be at least 51% Black-owned, as per the Financial Sector Charter.

• Be a Qualifying Small Enterprise (QSE) in sectors like retail or manufacturing.

• Follow a B2B model, or in some cases, a B2B2C model.

• Be South African-based and in operation for 2+ years.

• Have an annual turnover between R10 million and R50 million.

• Show good financial standing and growth potential.

• Require access to growth finance and be willing to undergo background checks.

Lekaba added, “The Growth Code is a collaborative blueprint designed to help Black-owned businesses create meaningful impact, scale with precision, and build legacies that resonate beyond the present.”

As South Africa continues its journey toward inclusive economic growth, initiatives like The Growth Code are crucial to empowering entrepreneurs who drive change from the ground up.

{Source: Times Live}

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