The company is to establish twelve enterprise development hubs in high unemployment areas in South Africa through the ongoing Anglo Zimele initiative. The venture is expected to create 25 000 new jobs in up to 1 500 new businesses across South Africa over the next seven years.
The commitment is a pledge to the Business Call to Action (BCtA) – a global initiative that challenges companies to apply their core business expertise, technology and innovative spirit to tackle poverty, promote growth in developing countries, and contribute to the attainment of the Millennium Development Goals (MDGs).
Anglo American is the first company from the extractive industry to have a project accepted by the BCtA.
"We are delighted that the expansion of Anglo American's long-established Anglo Zimele programme has been recognised by the Business Call to Action and we are continuing to review further opportunities to grow this successful and enormously valuable community programme," Anglo American CEO Cynthia Carroll said in a statement this week.
Start-up funds
The company will provide financing for small business start-up funds targeting the most vulnerable segments of South African society, in addition to providing mentoring and access to supply chain opportunities.
"Long-term economic growth is vital to the fight against global poverty, and business investment is vital to building economic growth," United Nations Development Programme administrator Helen Clark said recently.
"Today, business leaders are rewriting the value equation, to show that true worth comes not only from profits but from making a positive difference."
Looking to the future, Anglo American will also seek to further increase its enterprise development activities in Chile and Brazil.
Anglo American
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