R1.2 million worth of business asset support available for your business

November is an important month for business owners and entrepreneurs, with Global Entrepreneurship Week taking place from 17 to 23 November. This year’s theme, “Together we Build”, emphasises 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 R1.2 million for small & medium enterprise (SME) 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 SMEs’ 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 SMEs grow. In September, through the Old Mutual SMEgo Pitchathon, 14 businesses in the ICT and financial services sectors were funded with R300 000 each – totalling R4.2 million. Another 20 business owners who have been previously funded through SMEgo will begin a six-month business accelerator programme this November. This programme is worth R600 000.

The application window is open until 28 November 2025 for black-owned businesses across all industries in the nine provinces of South Africa. 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 SMEs.”

To apply, click here. Applications close on 28 November 2025 and funds will be paid out in January 2026. For queries, email: smego@oldmutual.com.

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