If you run a women-owned business and know what kind of finance you need, the next question is simply where to apply. This is a working list of funds that are open to women-owned businesses in South Africa, each checked as operating in September 2026, with what it offers, who qualifies and the official place to apply.
If you are still working out which type of funding suits your business, or how to prepare your application, start with our guide to how funding for women-owned businesses works, then come back to this list.
Quick comparison
| Fund | Type | Amount | Best suited to |
|---|---|---|---|
| SEDFA Imbali For Her | Blended grant and loan | Up to R5 million | Black women-owned businesses at any stage |
| NEF Women Empowerment Fund | Loan, equity or a mix | R250,000 to R75 million | Start-ups, expansions and acquisitions with 51% black female ownership |
| Isivande Women’s Fund | Loan | R30,000 to R2 million | Smaller women-owned businesses trading for six months or more |
| Business Partners Basadi-Women Growth Fund | Loan | R250,000 to R5 million | Established businesses with turnover under R20 million |
| Absa Women Empowerment Finance | Loan | R50,000 to R15 million | Trading businesses with cash flow but little collateral |
| Old Mutual Masisizane Fund | Loans and business support | Varies by deal | Black-owned businesses linked to corporate supply chains |
| Alitheia IDF | Private equity | Growth-stage investments | Established, gender-diverse businesses ready to scale |
| SHEquity | Venture capital | Early-stage investments | Innovative, female-led start-ups with high growth potential |
| Cartier Women’s Initiative | Award and grant | Annual prize funding | Women impact entrepreneurs |
1. SEDFA Imbali For Her
Launched by the Department of Small Business Development in May 2026, Imbali For Her is the Small Enterprise Development and Finance Agency’s flagship programme for women entrepreneurs. It offers blended finance of up to R5 million, combining a grant with a loan, alongside training, mentorship and market access support.
Who qualifies: businesses at least 51% owned by a black woman who is a South African citizen, formally registered with CIPC, with the owner in a key management role. Applicants need to be tax compliant and B-BBEE, UIF and COIDA compliant.
Where to apply: through SEDFA’s online application platform at sedfa.org.za or on 0860 103 703. The government’s Vuk’uzenzele guide to applying sets out the process.
2. NEF Women Empowerment Fund
The National Empowerment Fund’s Women Empowerment Fund finances businesses owned by black women across most sectors, for start-ups, expansion and equity acquisition. Funding ranges from R250,000 to R75 million and can be structured as a secured loan, equity or a combination of the two.
Who qualifies: a minimum of 51% black female ownership, black women involved at management and board level, a commercially viable business case and the ability to repay. Job creation and a location in a rural or economically depressed area count in your favour.
Where to apply: on the NEF Women Empowerment Fund page. Our guide to NEF funding walks through the NEF’s application stages.
3. Isivande Women’s Fund
Isivande is a dtic initiative that provides affordable, flexible loans to women-owned businesses, covering start-up funding, expansion, business rehabilitation, franchising and bridging finance, with business support alongside.
Who qualifies: formally registered businesses that are at least 50% plus one share owned or managed by women, and that have been operating for at least six months. Loans range from R30,000 to R2 million.
Where to apply: see the government’s Isivande Women’s Fund page, or call the dtic customer contact centre on 0861 843 384.
4. Business Partners Basadi-Women Growth Fund
Business Partners, a specialist risk financier for small and medium businesses, runs the Basadi-Women Growth Fund for women-owned businesses. It lends from R250,000 to R5 million for property, working capital, equipment, acquisitions, start-up franchises or replacement finance, and offers an optional repayment holiday and interest capitalisation of up to six months.
Who qualifies: businesses at least 50% owned by women who are active in the business, with annual turnover below R20 million, trading as a private company or close corporation owned by natural persons. Expect to provide signed annual financial statements not older than 12 months and management accounts not older than three months.
Where to apply: online through the Basadi-Women Growth Fund page.
5. Absa Women Empowerment Finance
Absa’s Women Empowerment Finance is a business loan for new and existing women-owned businesses, from R50,000 to R15 million over up to five years. It is designed for businesses that have a revenue stream and positive cash flow but lack a deposit, collateral or security, and repayments can be monthly, bi-monthly, quarterly or annual.
Who qualifies: profit-making businesses registered with CIPC that can show future revenue and the ability to repay, with women owners in day-to-day control.
Where to apply: on the Absa Women Empowerment Finance page, or through your Absa business banker if you already bank with Absa.
6. Old Mutual Masisizane Fund
Established by Old Mutual in 2007, the Masisizane Fund provides development finance and business support to small businesses, with a focus on black-owned enterprises where women, young people and people with disabilities are involved. It works particularly well for businesses linked to corporate or government enterprise and supplier development programmes.
Where to apply: through the Masisizane Fund page. Applications are taken on a rolling basis, so confirm current limits and criteria directly with the fund.
7. Alitheia IDF
Alitheia IDF is a gender-lens private equity fund investing in small and medium businesses led by gender-diverse teams, from offices in Johannesburg and Lagos. It invests in South Africa and several other African countries, in sectors with strong women participation such as agribusiness, consumer goods, health, education, creative industries and financial and business services.
Where to apply: through alitheiaidf.com. As an equity investor, it suits established businesses that are ready to scale and open to selling a share.
8. SHEquity
SHEquity invests in innovative, female-led and female-owned start-ups across Sub-Saharan Africa, pairing capital with its business accelerator programme and investor network.
Where to apply: through shequity.com. It looks for scalable businesses with strong growth potential rather than steady, local service businesses.
9. Cartier Women’s Initiative
The Cartier Women’s Initiative is an annual international programme that funds and supports women impact entrepreneurs, with regional awards that include two Sub-Saharan Africa regions. Fellows receive grant funding along with coaching and a global network.
Where to apply: on the Cartier Women’s Initiative site. Applications run on a fixed annual cycle, so check the current edition’s deadline before you start.
Before you apply
Apply only where you clearly meet the criteria, and apply directly through the funder’s own website or offices. Legitimate funders do not charge an application fee, so treat anyone asking for an upfront payment to “unlock” funding as a scam. For a wider view of state funding beyond women-focused funds, see our guide to government funding for small businesses.
Frequently asked questions
Which fund should a women-owned start-up try first?
SEDFA’s Imbali For Her and the NEF Women Empowerment Fund both consider start-ups. Most lenders on this list expect a trading history, from six months for Isivande to a year or more of financial statements for Business Partners.
Do I need to be black-owned to apply?
For some funds, yes. Imbali For Her and the NEF Women Empowerment Fund require black women ownership. Business Partners’ Basadi-Women Growth Fund and Isivande are based on women ownership or management, so check each fund’s criteria.
Which of these funds do not require collateral?
Absa’s Women Empowerment Finance is designed for businesses that lack collateral but have cash flow. Development funders such as the NEF and SEDFA also weigh viability and repayment ability heavily, but security requirements depend on the deal.
Can I apply to more than one fund at the same time?
Yes, but tell each funder, and make sure every application is tailored to that fund’s criteria. Several targeted applications are more effective than one generic application sent everywhere.
Are there grants for women-owned businesses that do not need to be repaid?
Imbali For Her includes a grant portion within its blended finance, and awards such as the Cartier Women’s Initiative give prize funding. Pure grants are scarce, though, and most funding for women-owned businesses is repayable.
Originally published in November 2021. Updated September 2026. Funding ranges and criteria change, so confirm current details directly with each fund before applying.
