WHO WE ARE
Shanduka Black Umbrellas was first conceived as the Black Umbrellas, a project spearheaded by Cape Town social entrepreneurs Charles Maisel and Mark Frankel to support SMMEs.
In 2009 the Shanduka Foundation (now Cyril Ramaphosa Foundation) partnered with Black Umbrellas to escalate the project countrywide with R5.2 million invested in the set up and operations of a Gauteng office.
Cyril Ramaphosa, Chairperson of the Cyril Ramaphosa Foundation, is deeply committed to the vision of Shanduka Black Umbrellas as a catalyst in the development of entrepreneurs, a sector he has identified as critical to the empowerment of historically marginalised South Africans.
Shareholding in the Shanduka Group is held in two trusts: The Fundani Education Trust and the Mabindu Business Development Trust, the latter of which supports Shanduka Black Umbrellas.
I believe that developing black entrepreneurs is essential to the future social-economic development of South Africa. It is imperative that we bring a much larger number of small black-owned businesses into the economy as it’s really through these businesses that we distribute the outcomes of the economy to the communities within which they operate.
Mark Frankel, Founder, Shanduka Black Umbrellas
Cyril Ramaphosa Foundation
When the Shanduka Foundation, now Cyril Ramaphosa Foundation, was launched in 2004, Shanduka Group made a commitment to spend R100 million on corporate social investments over ten years. Shanduka is well on track to achieve this goal, having spent R87 million to date. In addition, when Shanduka was founded, 5% of its shareholding was set aside for two trusts: Fundani, an educational trust, and Mabindu, a small business development trust. These trusts support the entities within the Cyril Ramaphosa Foundation through which it carries out its social investments.
To find out more, click here