Allan Gray Makers and E Squared Investments launch Imara SMME Fund

In a bold move to reshape South Africa’s economic landscape, the Imara Artisan SMME Fund has officially launched, pledging to empower the nation’s unsung heroes: artisan entrepreneurs. Spearheaded by Allan Gray Makers and seeded by E Squared Investments, this fund targets the R300bn funding gap stifling small and medium enterprises (SMMEs) in critical artisan trades. The initiative aims to bridge this critical gap by empowering 20,000 artisan microbusinesses to spur job creation, strengthen local economies and foster inclusive socioeconomic progress.

Derived from the Kiswahili words for “strength” and “resilience,” IMARA transcends the traditional definition of a fund, it stands as a lifeline for South Africa’s unsung economic backbone: its artisans. These skilled individuals, who craft the nation’s infrastructure and sustain communities through their labour, have long been marginalised by rigid financial systems. Yet, their contributions are undeniable: small and medium enterprises (SMMEs), many led by artisans, fuel over 30% of the country’s GDP and 60% of its employment. IMARA’s launch boldly confronts this contradiction, channeling innovative solutions to unleash the untapped potential of those who power South Africa’s growth from the ground up.

Seth Mulli, programme director at Allan Gray Makers, captures this vision:
“Artisans don’t just build homes and roads, they build dreams. But when denied fair access to capital, their impact remains shackled. IMARA isn’t merely financing tools; we’re financing dignity. Every rand invested becomes a brick in South Africa’s foundation of inclusive growth.”

Echoing this sentiment, Gladwyn Leeuw, CEO of E Squared Investments, adds:
“This is a transformative moment in unlocking the untapped potential of South Africa's artisan entrepreneurs. This initiative will empower thousands of artisans, creating a ripple effect of prosperity that extends far beyond the businesses themselves, strengthening communities and driving national progress.”

The fund introduces South Africa’s first financing model tailored to artisans’ unique challenges:

• Asset Rentals: Partnerships with leading Building Supply Retailers will enable SMMEs to rent essential tools and equipment without upfront cash requirements.
  
• Material Financing: Artisan entrepreneurs can access materials needed for projects through channel partners without immediate payment obligations.
  
• Invoice Discounting: SMMEs will receive liquidity immediately after completing projects instead of waiting 45-90 days for payment from clients.

IMARA invites investors to amplify its reach. Returns here transcend financial metrics: For every R1 invested, IMARA projects R8 in social value through jobs created, skills honed, and communities revitalised. The fund is now stewarded by Setana Capital, a specialist in impact-driven portfolios, to ensure this dual mandate of profit and purpose delivers measurable change.

About Allan Gray Makers:

Allan Gray Makers, a programme of Allan & Gill Gray Philanthropies is committed to transforming South Africa's technical and vocational trades through entrepreneurial education. By 2035, Allan Gray Makers aims to have supported 10,000 to 20,000 artisanal enterprises, resulting in 300 000 income earning opportunities impacting one million lives in their households.

About E Squared Investments:

E Squared is a South African Impact Investor that provides funding and end-to-end business support to high-growth businesses, early-stage founders and social enterprises that create youth entrepreneurship opportunities.