In order to qualify from funding from the CCBSA Mintirho Foundation, applicants must:
1. Be a resident of South Africa: A South African company, owned by South African persons/entities or a South African resident as per BBBEE codes.
2. Demonstrate sustainability: Every investment must show, either at application stage or over a budgeted period through the intervention of the Fund, that it is sustainable (from a marketing, technical, environmental and financial perspective) over a long term.
3. Be in a qualifying sector: Either an Agri-business and manufacturer in the CCBSA Group value chain, focussing on the CCBSA Group Value chain, which includes the Appletiser value chain.
4. Be a qualifying beneficiary legal entity (company, trusts and co-ops): Preference will be given to SMEs. An SME as per the Small Business act is defined asAn entity that meets at least two criteria:
- Number of employees less than 200, annual turnover does not exceed R50m and the value of gross assets is less than R55m;
- BBBEE level and ownership - applicants to the Trust for funds must have a minimum Black Economic Empowerment ownership of 51% at the date of application and the date when the funds are granted, approved and disbursed. In addition applicants must have a level 4 BBBEE or better rating from a credible accreditation agency at application stage.
5. Be a qualifying type of enterprise - start-ups, expansions and acquisitions. In respect of acquisitions, the acquisition must:
- Support black people with the relevant skills; or
- Support existing black entrepreneurs to do a strategic acquisition to acquire expertise or capacity resulting in an expansion in production; and
- Have ownership of more than 51% by Black people and minimum 30% Black women both of which shall be in senior management.
6. Have access to land: For transactions relating to farm development, the applicant must have access to land either through ownership or a long term lease greater than 10 years to ensure sustainability. The project must have assigned water rights and be compliant in terms of all legislation such as National Environmental Act (NEMA), appropriate zoning etc.
7. Deliver increased capacity: The investment must deliver new or additional capacity resulting in products supplied into the CCBSA Group value chain and/or results in additional recognition in BBBEE preferential procurement spend.
8. Be compliant: Beneficiaries must comply with South African legislation and regulations and should behave in a socially responsible manner.
9. Create jobs: Beneficiaries must show an element of job creation in their projects which does not preclude automation. Projects should not result in job losses.