The eThekwini Municipality, the KwaZulu-Natal Oils Group (Pty) Ltd, and the KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs (EDTEA) will enter into a Memorandum of Understanding (MoU) to support 20 small, medium and micro enterprises (SMMEs).
The eThekwini Municipality’s proposed collaboration with the KwaZulu-Natal Oils Group (Pty) Ltd is expected to address barriers faced by township and peri-urban entrepreneurs.
In a report before the council on Tuesday, the municipality stated that the KZN Oils Enterprise and Supplier Development (ESD) Project 10X Unicorn programme was conceptualised in October 2024 in response to entrepreneurs having limited access to markets, constrained financing, fragmented mentorship support, and weak operational systems.
The ESD initiative was launched during a seminar at the municipality’s Durban Business Fair in 2024. According to the municipality, the key outcome of the seminar was to support 20 small, medium, and micro enterprises (SMMEs), with KZN Oils serving as the custodian and host of the six-month ESD programme. Approximately 74 SMMEs applied.
According to the report, the selection criteria focused on compliance, years of business operation, growth potential, alignment with the KZN Oils Group value chain, potential community impact, and an entrepreneurial mindset with enhanced operational readiness.
