Frequently Asked Questions

The window of applications is open for 6 weeks from 12th July 2022 until 23rd August 2022.
No, this is a direct investment for which MIC will receive a share in your business.
No, this is not a loan. This is a direct investment in your business. This means in exchange for the amount we provide to you which will be used to grow the business, we will receive a share of your business.
We are looking to invest a minimum of R15m per business that meets our criteria.
No. Funding is only available for established businesses past idea and seed funding stage.
Should you not meet the initial shortlist you will be informed by the 23rd of August.
The application window is 6 weeks. Subsequent to which we will take 1 week to shortlist the final 20 entities, the remaining entities we will inform that their application was not successful. The IAAE team will then help the remaining 20 over a period of 2 weeks (to 24th Sept) to prepare a pitch Deck which will be provided to the assessment team. The final 20 will then be reduced to 10 over a period of a week (Beginning of September). October for Due Diligence. November presentation (summarise the final 2/3 entities), which will reveal key areas to fulfil additional due diligence on (Legal and Software).
Investment we will then consider it as a potential investment and forward it to the team responsible for larger investments, who will then assess your application to see whether it meets their criteria. For purposes of MIC Khulisani Ventures we will consider up to a maximum of R30m.
We will consider this business provided you have proven your ability to win at least one customer and there is potential alignment with any investment in our existing portfolio or an ability for it to benefit our NUM members as well as the business being highly scalable from MIC's perspective.
The 3rd parties referenced in this example include friends, family, financial institutions, foundations, competitions.
  • Innovation and scalability
  • Team Experience/Knowledge/Qualifications (note this refers to the individual team members in and outside of the business on whose behalf the application is being completed)
  • Preference for B2B businesses.
  • Easy ability for business to leverage MIC's existing core portfolio, and/or service NUM members
  • Potential use case to benefit members of the National Union of Mineworkers
  • Our current mechanisms for assistance are relevant to the business
Company location refers to the official address of the head office.
This means what is the total revenue that your company earns.
This question refers to exactly that and looks beyond when your company registration occurred.
Yes, we will still consider based on your overall BEE score however preference is still held for majority black owned companies.
No, only one member of your team should create a profile as there will be one application per company?
Yes, for as long as the application window is open you can edit your application.
Yes, the application is designed such that you don't have to complete the application all at once, you can complete it anytime throughout window period, we would encourage you not to wait until the last minute to complete it.
Yes, indicate that you have forgotten your password below where the password is entered and follow the prompts. Note, that your saved application progress will not be lost.
  • Majority black owned businesses
  • Black women owned businesses are encouraged
  • Innovative product or service offering
  • Disruptive within sector
  • Scalable
  • High growth potential
  • In operation for at least three years
  • Post-revenue
  • Franchise businesses
  • Seed stage investments (We consider these to be pre-revenue businesses)
  • Fast food
  • Primary agriculture
MIC Khulisani Ventures is a product of Mineworkers Investment Company (MIC), a 100% black owned broad-based investment holding company that was established by the Mineworkers Investment Trust (MIT) to provide ongoing funding for the Trust’s social and educational projects. With a foundation cemented in South African soil since 1995, MIC invests in companies of all sizes and across various sectors, including financial services, health, leisure, business services, industrials and media.
Yes. Receiving an investment from MIC Khulisanii Ventures does not hinder the participation of other potential investors.
At the moment, participation in this window is projected to take 4 months before a final shortlist is invited to present to the MIC Investment Committe. This will warrant an additional 3 months of final processing after which investments will then be paid out.
This investment is not limited in its use within the business and the remit of the business plan.
MIC will take a minority stake in receiving businesses. Management and day to day running will continue to be the responsibility of the appointed parties.