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Overview

Palabora Mining Company provides 150 million Rand for local entrepreneurs and employment

Commitments (Constant USD, 2023)$12,291,342
Commitment Year•2015Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Business And Other ServicesFlow Type•Grant

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 1, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned companies

  • Palabora Mining Company Ltd (PMC)

Receiving agencies

Government Agencies

  • Government of South Africa

Loan description

Palabora Mining Company provides 150 million Rand for local entrepreneurs and employment

Narrative

Full Description

Project narrative

In October 2015, Palabora Mining Company presented 27 certificates of graduation to individuals who had undergone a year-long programme focused on business knowledge, management and the financial aspects of operating entities that was conducted in tandem with the University of Venda and the Center for Supplier Development. Palabora demonstrated a continued commitment to enterprise growth by presented the Business Committee with 150 million South African Rand to use for stimulating growth and increasing employment opportunities in the Phalaborwa region. Between October 2015 and February 2016, 10 companies had already been awarded various opportunities through Palabora's funding.