The People’s Fund: What Could You Buy With R900 Billion?

Updated on 23 November 2020

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The following content is paid for by The People’s Fund.

By: Rutendo Chizunza, Marketing Officer, The People’s Fund

Imagine living in one of the cleanest cities in the world, a thriving city with a functioning public transport system, a healthcare system that’s efficient, a hub for technology and entrepreneurship, a shopping destination with a vibrant nightlife. You’ve just imagined Singapore.

But things weren’t always like this for the now thriving island nation. In 1965, Singapore’s prime minister Lee Kuan Yew set out to change the fate of what was then a nation riddled with tribalism, high unemployment and uncertainty through government programs that would transform the nation in a single generation. Some of these policies included adopting a national call to action known as “kiasu” which translates to “afraid to lose”. This national mentality was adopted, encouraging Singaporeans to always strive to be number one in all they do.

So how do we achieve a similar feat? Through the government spending less. At current count, the government spends around R900 billion buying from small businesses through the tendering system. Although this was created to encourage participation in the economy by small businesses, the lack of competition in the industry sees the government purchasing goods at retail prices.

At The People’s Fund we understand that tendering plays a critical role in the economy by not only ensuring our hospitals have the essential goods they need to care for patients and to tackle mass outbreaks like COVID-19, but also ensuring that roads are fixed and textbooks get delivered. We see this every day with the entrepreneurs we fund.

This would build a model of South Africa that works and one that affords opportunity to all those who seek it.

You can tender for just about anything, all you need to do is register on the government’s Central Supplier Database.

About The People’s Fund

The People’s Fund, which launched in 2017, is a purchase order crowdfunding platform for businesses that have orders with the government and corporates, and are looking for capital to complete the order. Businesses must be 51% black-owned to qualify.

First purchase order? Don’t get taken for a ride.

Let us fund it and we’ll walk the journey with you. With a dedicated field officer who will draw up delivery notes and invoices with you, ensure you’re delivering the right items and on time, there’s no reason to go anywhere else.

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