The fund’s aim is to support small businesses.
Recently, a partnership was announced with the Federated Hospitality Association of SouthernAfrica(FEDHASA).
The partnership aims to preserve jobs in the industry.
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The R100 million would be distributed among qualifying restaurants.
Applicants must also be FEDHASA members.
This will need to be repaid over five years.
Billionaire Johann Rupert’s Sukuma Fund will loan eligible SA restaurants between R250 000 and R1 million each. Image: Warren LittleSource: Getty Images
Richemont’s share price reportedly rose by more than 6%.
According toIOL, this is a year-high of R157.01 a share on the JSE.
Previously,Briefly Newsreported thatRupert made it to the 385th position on the Forbes Billionaires List for 2021.
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InMzansithere are officially five billionaires who made it onto Forbes' list for this year.
Rupert is the chairman of Compagnie Financiere Richemont, a Swiss luxury goods company.
The stats from Forbes revealed that Rupert is Africa’s fourth-wealthiest person.
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Source: Briefly News
Reeshni ChettyReeshni Chetty is a senior current affairs reporter.
Reeshni has a passion for breaking the stigma surrounding mental health issues.
