About Isivande Women's Fund
The Isivande Women's Fund is a dedicated funding vehicle designed to accelerate women's economic empowerment in South Africa. Managed by IDF Managers (Identity Development Fund Managers) on behalf of the Industrial Development Corporation (IDC), the fund provides affordable, responsive finance to women-owned and women-managed businesses.
Isivande at a Glance
- Managed by: IDF Managers (on behalf of IDC)
- Target: Women-owned businesses (50%+1 ownership)
- Funding Range: R30,000 to R5,000,000
- Funding Type: Debt, equity, or quasi-equity
- Key Benefit: Patient capital with business support
- Coverage: National (all provinces)
The name "Isivande" comes from the Zulu word meaning "reward" or "harvest"—reflecting the fund's goal of helping women entrepreneurs reap the rewards of their hard work through access to appropriate finance and support.
What is Patient Capital?
Patient capital refers to funding with longer repayment terms, lower interest rates, and more flexible conditions than commercial bank loans. It gives businesses time to grow and become profitable before facing heavy repayment burdens.
Funding Details
Isivande offers flexible funding structures to match different business needs:
| Aspect | Details |
|---|---|
| Minimum Amount | R30,000 |
| Maximum Amount | R5,000,000 |
| Funding Types | Debt (loans), Equity, Quasi-equity (hybrid) |
| Loan Terms | Up to 7 years (depending on purpose) |
| Interest Rates | Below market rates (typically prime minus 2-4%) |
| Repayment Holiday | Up to 6 months (case-by-case) |
Funding Purposes
Isivande can fund various business needs:
Bridging Finance
Short-term funding while waiting for contract payments, grant disbursements, or other confirmed income.
Growth Capital
Funding for business expansion—new equipment, additional staff, inventory, or marketing campaigns.
Working Capital
Ongoing operational funding to manage cash flow, pay suppliers, or cover seasonal variations.
Acquisition Finance
Capital to acquire another business, purchase assets, or buy out existing shareholders.
Funding Structures Explained
Debt (Loan)
Traditional loan with fixed repayments. You maintain 100% ownership. Best for established businesses with predictable cash flow.
Equity
Isivande takes a shareholding in your business. No monthly repayments, but you give up some ownership. Best for high-growth businesses.
Quasi-Equity (Hybrid)
Combination of debt and equity features. May include profit-sharing, convertible loans, or flexible repayments tied to business performance.
Eligibility Requirements
To qualify for the Isivande Women's Fund, your business must meet the following criteria:
Formally Registered Business
Must be registered with CIPC as a Pty Ltd company, Close Corporation (CC), or Cooperative. Sole proprietors do not qualify.
50% + 1 Women Ownership
Women must own at least 50% plus one share of the business. This is the non-negotiable core requirement for Isivande funding.
Women-Managed
Women must be actively involved in key decision-making and management of the business—not just passive shareholders.
Black-Owned
The business must be black-owned (at least 51% black ownership). This aligns with B-BBEE requirements and the fund's transformation mandate.
6+ Months Trading History
Business must have been operating for at least 6 months with demonstrable trading activity and revenue.
Viable Business
Must demonstrate business viability with growth potential. Isivande invests in businesses that can become sustainable and create employment.
Understanding 50%+1 Ownership
The "50%+1" requirement ensures women have controlling interest:
- In a 100-share company: Women must own at least 51 shares
- In a 2-member CC: The woman member must have controlling interest
- In a cooperative: Women must be the majority of members
Your CIPC CoR39 (share register) or MOI will be used to verify this.
Not Sure About Your Shareholding Structure?
If your current shareholding doesn't meet the 50%+1 women requirement, you may need to restructure before applying. A legal or accounting professional can help you understand your options.
Find Corporate Law SpecialistsApplication Process
The Isivande application process is thorough but supportive. Here's what to expect:
Complete IDF Online Application
Visit www.idf.co.za and complete the online application form. Be thorough—provide detailed information about your business, ownership structure, funding needs, and intended use of funds.
Time: 1-2 hours to complete properly
Initial Screening
IDF reviews your application to verify basic eligibility: women ownership (50%+1), business registration, trading history, and funding requirements. They may contact you for clarification.
Time: 1-2 weeks
Due Diligence Process
If you pass initial screening, IDF conducts comprehensive due diligence including:
- Financial analysis of your business
- Site visits to verify operations
- Management interviews
- Market and competitive assessment
- Reference checks
Time: 2-4 weeks
Investment Committee Review
Your application is presented to the Isivande Investment Committee for approval. They assess viability, risk, developmental impact, and alignment with fund objectives.
Time: 1-2 weeks
Term Negotiation
If approved in principle, you negotiate final terms with IDF:
- Final funding amount
- Funding structure (debt/equity/quasi-equity)
- Interest rate and fees
- Repayment period and schedule
- Any conditions or covenants
Time: 1-2 weeks
Legal Documentation and Disbursement
Legal agreements are prepared and signed. Upon completion of all conditions precedent (such as security registration or insurance), funds are disbursed to your business account.
Time: 2-4 weeks
Total Timeline
From application to disbursement typically takes 6-12 weeks. The most common delays are caused by incomplete documentation or unavailability for site visits. Prepare thoroughly to speed up the process.
Required Documents
Isivande requires comprehensive documentation to assess your application. Prepare these documents before applying:
CIPC Registration Documents
COR14.3 (company registration), CM29 (director details), and current CoR39 (share register). Must show the company in good standing.
Shareholding Structure Proof
Documentation proving 50%+1 women ownership. This typically includes:
- CoR39 share register
- Memorandum of Incorporation (MOI)
- Shareholder agreement (if applicable)
This is the most critical document for Isivande.
B-BBEE Certificate
Valid B-BBEE verification certificate, or sworn EME/QSE affidavit if qualifying as Exempted Micro Enterprise.
B-BBEE guide →12+ Months Bank Statements
Business bank account statements for at least 12 months. Isivande requires more extensive banking history than other funders to assess cash flow patterns.
Financial Statements
Audited or reviewed annual financial statements. For funding above R1M, audited statements are typically required. Management accounts may be accepted for smaller amounts.
Business Plan
Comprehensive business plan including executive summary, market analysis, operational plan, and 3-5 year financial projections. Must clearly articulate how funding will be used.
Management CVs
Detailed CVs of all directors and key management personnel, highlighting relevant experience and qualifications.
Isivande Applications Need Strong Financials
The fund requires audited or reviewed financial statements. Okhantu's marketplace has CA(SA) professionals who can:
- Prepare reviewed financial statements
- Audit existing financials
- Create investor-ready financial projections
- Structure your funding application package
What Sets Isivande Apart
Isivande offers several advantages over commercial bank funding:
Patient Capital
Longer repayment terms and the possibility of repayment holidays give your business time to grow before facing heavy repayment burdens.
Business Support Included
Isivande doesn't just provide money—they offer ongoing business support, mentorship, and guidance to help you succeed.
Networking Opportunities
Access to IDF's network of women entrepreneurs, potential clients, suppliers, and other stakeholders in the ecosystem.
Below-Market Interest Rates
Interest rates are typically 2-4% below what commercial banks would charge for similar risk profiles.
Flexible Funding Structures
Options for debt, equity, or hybrid structures tailored to your business needs and growth stage.
Development Focus
As a developmental funder, Isivande considers social impact and job creation alongside commercial viability.
Contact Information
IDF Managers (Isivande Fund Manager)
Phone: 011 772 7900 / 011 772 7910
Email: info@idf.co.za
Website: www.idf.co.za
Office Hours: Mon-Fri, 8:00 AM - 5:00 PM
IDC (Fund Principal)
The Industrial Development Corporation provides the capital behind Isivande. For general IDC funding enquiries (including larger amounts):
Phone: 011 269 3000
Website: www.idc.co.za
Frequently Asked Questions
What does '50%+1 women-owned' mean?
This means women must own at least 50% plus one share of the business. For example, in a 100-share company, women must own at least 51 shares. This ensures women have controlling interest and decision-making power in the business.
Can men be shareholders in an Isivande-funded business?
Yes, men can be minority shareholders (up to 49%). However, women must own the majority (50%+1) and be actively involved in management. The business must demonstrate that women are making key decisions.
How long does an Isivande application take?
The typical timeline is 6-12 weeks from initial application to disbursement. This includes initial screening (1-2 weeks), due diligence (2-4 weeks), investment committee review (1-2 weeks), and legal/disbursement (2-4 weeks).
What interest rate does Isivande charge?
Isivande offers below-market interest rates as part of its developmental mandate. Exact rates are determined based on the risk profile and funding structure. Rates are typically 2-4% below commercial bank rates.
Do I need audited financial statements?
For funding amounts above R1 million, audited financial statements are typically required. For smaller amounts, reviewed financial statements or management accounts may be acceptable. The fund prefers professionally prepared financials regardless of amount.
Can I use Isivande funding to start a new business?
Isivande primarily focuses on existing businesses with at least 6 months of trading history. For pure start-ups, consider NYDA grants or GEP Start-up Finance first, then approach Isivande for growth capital once established.
Next Steps
Need Help with Your Isivande Application?
Lamase Chartered Accountants has helped multiple women-owned businesses secure Isivande funding. As a CA(SA)-led practice, they can:
- Prepare audited or reviewed financial statements
- Create investor-ready business plans
- Structure your shareholding documentation
- Package your complete funding application
Did You Know?
Okhantu tracks multiple women-focused funding programmes. Create a company profile to get matched with all funds you qualify for, not just Isivande. Check all your funding options →
Need Help Applying to the Isivande Women's Fund?
Our network of funding consultants specialising in women-owned businesses can help you prepare your application, financial statements, and shareholding documentation.
- Business plan development
- Financial projections
- Funding application support
- Pitch deck preparation