Great news for restaurant owners this week is that The Sukuma Fund, which was formed in lockdown to provide emergency relief to small businesses, has allocated just over R1 million to independent restaurant owners.
Fin24 reports that the money for the fund was donated by the Rupert Family and Remgro, an investment holding company based in Stellenbosch – home to some of the country’s finest restaurants and wine farms.
The Sukuma Fund has partnered with the Federated Hospitality Association of South Africa (FEDHASA) to offer rental and cashflow relief to restaurateurs.
Qualifying restaurants can APPLY HERE and need to:
• Be formally registered with FEDHASA
• Operate as an independent restaurant
• Provide evidence of financial solvency and future viability
• Be regulatory compliant
• Secure 25% rental relief from landlords
Note: Restaurants that are not yet registered will still qualify if they register online.
According to Fin24, FEDHASA estimates that nearly 30% of restaurants were forced to close their doors at the height of South Africa’s hard lockdown. The Sukuma Fund’s restaurant relief efforts could be a lifeline for many restaurants.