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Anglo announces new enterprise development venture

Cynthia Carroll,
Chief Executive,
Anglo American
London, England — MININGREVIEW.COM — 29 January 2010 – Mining giant Anglo American plc “’ one of the world’s major diversified mining groups “’ has announced a new enterprise development venture that will help to generate more jobs, support entrepreneurship and strengthen local economies in South Africa.

In a statement released here, the company said this commitment was 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 was the first company from the extractive industry to have a project accepted by the BCtA.

The company revealed that its commitment to the BCtA was to establish 12 enterprise development hubs in high unemployment areas in South Africa, within the ongoing Anglo Zimele initiative. This venture was expected to create 25 000 new jobs in up to 1 500 new businesses across South Africa over the next seven years.

Its statement added that Anglo American would provide financing for small business start-up funds targeting the most vulnerable segments of society, in addition to providing mentoring and access to supply chain opportunities. Looking to the future, Anglo American would also seek to further increase its enterprise development activities in Chile and Brazil.

Anglo American chief executive Cynthia Carroll said: “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."