November is an important month for business owners and entrepreneurs with Global Entrepreneurship Week (GEW) taking place from the 17-23 November. This year’s theme “Together we Build” emphasizes building a more robust and inclusive future for entrepreneurship through collaboration, innovation, and action. With this theme as a backdrop Old Mutual SMEgo launches its Business Asset Programme worth one million, two hundred rands (R1,2million) for SME business operations in South Africa. This funding covers a wide range of assets from equipment to business tools or tech. Multiple businesses can receive up to R20,000 worth of funding.
“At Old Mutual SMEgo we are well aware of the lived realities entrepreneurs face when it comes to funding. Despite SME’s significant contributions to economic growth, job creation and social development, they face huge roadblocks in accessing external funding. One of the main stumbling blocks is lack of comprehensive financial documentation required by lenders for credit applications as well as collateral to secure loans. This programme requires basic documentation to meet qualifying criteria .” Says Nobesuthu Ndlovu, Director SME, Old Mutual Corporate.
This programme is part of other initiatives in 2025 by Old Mutual SMEgo geared at helping SME’s grow. In September through the Old Mutual SMEgo Pitchathon, 14 Businesses in the ICT and Financial Services sector were funded with R300,000 each totalling R4,2million. In addition another 20 business owners that have been previously funded through SMEgo will begin a 6 month business accelerator programme this November. This programme is worth R600,000.
The application window is open till 28th November 2025 for black owned businesses across all industries in the 9 provinces. Business owners will be required to submit an application form, together with business documents including a CIPC Registration Certificate, a Tax Compliance Certificate and a 12-month bank statement. Prequalifying criteria includes a subscription to the R299 or R599 SMEgo Plan. Once selected quotations from three service providers will be requested and the funds will be paid directly to the service provider. Qualifying businesses will not be required to pay back the money.
Concludes Ndlovu, “Payment directly to the service provider ensures speedy and efficient payouts allowing business owners to continue to run their business with minimal disruptions and start the year strong. This type of funding is meaningful as there is no pitching or lengthy application processes. This approach demonstrates our commitment to action in building together with our SME’s.”
To apply click here; https://www.oldmutual.co.za/smegobusinessassetdisbursement/. Applications close on the 28th November 2025 and funds will be paid out in January 2026. For queries email: smego@oldmutual.com
