Mpumalanga Economic Growth Agency (MEGA) - Agriculture and Agro-Processing

MEGA (Mpumalanga Economic Growth Agency) provides finance to small, medium and micro -enterprises and co-operatives in Mpumalanga. Their aim is to support disadvantaged business owners operating in the agriculture or agri-processing sector who may not meet the requirements of commercial lenders.

MEGA has various types of loans which have different repayment terms and they will work with you to find a loan and repayment process that best suits both parties.

They provide funding from R10 000 to R1m using one of the funding instruments below:

• Seasonal loans - seasonal repayment terms.
• Livestock loans (poultry, piggery etc) - repayment term of three to eight years.
• Revolving credit facility - maximum repayment term of twelve months.
• Equity funding - repayment term based on the duration of the contract.
• Guarantee - repayment term based on the duration of the contract.
• Business loans - maximum repayment term of ten years.
• Bridging Loans - repayment term based on the duration of the contract period.

Eligibility criteria

• The business owner must be a historically disadvantaged individual.
• The business owner must be a South African citizen or a foreigner with permanent residence in South Africa.
• Viable SMMEs and co-operatives with a good prospect of profitability.
• The business must be based in Mpumalanga.
• The business must have access to land or production facilities.
• Must be able to display the ability to repay the loan.
• Preference is given to previously disadvantaged business owners.
• The business owners must provide a minimum financial contribution of 10% (assets can be considered as a financial contribution).
• Owners must be actively involved in the day-to-day management and operation of the business.
• The business and its owners must have a reasonable credit record.
• Funding is biased towards businesses with the potential to create job opportunities.

Application process

Download the application form here.