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How does Vumelana work?
- Applications for funding are invited from communities, government departments, advisors or investors
- A cooperation agreement is signed with the community setting out the basis of the relationship between the community and Vumelana
- A transaction advisory team is contracted to structure an agreement in terms of which the community makes the land available and the investor undertakes to finance and manage operations
- The Transaction advisory team procures proposals from potential partners which show how the land will be developed to create jobs, income, skills and other benefits for community members.
- Once an agreement is signed, the investor reimburses Vumelana for the costs incurred by the transaction advisory team in putting the deal together.
- The reimbursed funds are used by Vumelana to finance the support to the community property institution for a period of two years.