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The KZN Growth Fund is an initiative aimed at creating sustainable economic development, job creation and black economic empowerment within the infrastructure sector in the Province of KwaZulu-Natal.

The KZN Growth Fund is essentially a debt fund, structured as a unique public-private partnership between the Provincial Government, commercial invitations and development finance institutions. It was established with a mandate to finance medium to large scale infrastructure-related projects throughout KwaZulu Natal, which drives economic success, stimulates job creation, promotes broad-based black economic empowerment (BB-BEE) and reduces inequality.

The Growth Fund targets infrastructure related projects R30 million and above.

Each project will be required to generate new and sustainable job opportunities, foster black economic empowerment throughout the KwaZulu-Natal Province, and demonstrate an ability to repay the debt funding.

Target Sectors:

The KZN Growth Fund targets projects across many sectors in the province, with the exception of residential property and ‘sin industries’ (tobacco, gambling, etc.). Sectors in which the KZN Growth Fund provides finance include:

  • Transport and logistics;

  • Tourism;

  • Manufacturing;

  • Telecommunications;

  • Power and energy;

  • Health and education infrastructure;

  • Agro-processing; and

  • Mining and mineral beneficiation.

Any other sector, which may promote the objectives of the Fund, provided it satisfies the investment policy of the Fund.

Project Requirements:

  • Projects must have a sustainable economic impact in KwaZulu-Natal.

  • Projects require a minimum of 30% B-BBEE ownership or B-BBEE score of at least 65 points (level 4).

  • Funding for capital expenditure projects (CAPEX).

  • BEE shareholders need to be operationally involved in the business.

  • Projects must stimulate sustainable job creation and equitable distribution of wealth within the KwaZulu-Natal economy.

  • Equity contribution of the promoter subject to cash flows and capital structure (minimum 10%).

  • Projects must be at an advanced stage of implementation (disbursement within 6 months of application).

Please note this fund does not finance acquisitions or working capital.

Business People


At Funding Connection, we understand the complexities of the various funding agencies and the unique application criteria for each. We have assisted numerous entrepreneurs through the application process to access funds like this for business growth, and we can help you with the whole process.

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