Today’s Top Entrepreneurship and Business Stories (31 May)
SAB KickStart Boost Top 10 Finalists Revealed
As the Youth Month dawns, The South African Breweries (SAB) has announced the top 10 finalists for the 2016 class of youth entrepreneurship programme, SAB KickStart Boost.
Up to R3.1-million in business support and funding has been awarded between the top 10 finalists.
SAB KickStart Boost provides established businesses assistance with expansion and support during an 18-month programme geared towards the development of youth entrepreneurship. The class of 2016 began their Kickstart journey in June 2016 when the #StartupTruck toured South Africa in search of attractive businesses needing growth opportunities.
The 25 selected candidates, drawn from a broad range of industries including health and wellness, marketing, agriculture, cleaning and manufacturing, embarked on an intensive business skills training journey tailored to develop business growth.
The top 10 finalists are:
Bahle Nteleki, MB.co Podiatrist, Soweto,
Cleopatra Simelane, The Recess Youth Movement, Soweto
Lebogang Lekalakala, B-Ma Services, Pretoria
Litha Ndabula, The Venclean Group, East London
Jafta Skosana, Renabo Plastic Moulders and Furniture, KwaMhlanga
Mbali Bhengu, Mind Switch, Westville
Nthabiseng Lemena, Lemena TN Solutions, Welkom
Tshepo Mdake Shangilia Boutique Spa, Hammanskraal
Tumelo Pholwane, Botshelo Wellness and Fitness Club, Thaba Nchu
Zama Buthelezi, The She Creative House, Baynesfield
The finalists, aged between 22 and 35, “are now focussed on working through their businesses with their assigned mentor to unlock opportunities in their businesses that will take them to the next level,” said Nirishi Trikamjee, SAB Corporate Affairs Director.
“Eleven months into the programme, these entrepreneurs are entrenched in their training and we are waiting in anticipation to see who will come out tops come November 2017.”
The top 10 finalists currently employ 48 staff between them, with 26 part-time workers, and are projected to grow this to more than 100, with 20 part-time workers.
“The next six months will see the group receiving business mentoring through our partner The Awethu Project, in which the mentor will work through at least eight, one-on-one mentoring sessions to work through a growth strategy tailored for their individual business, receive a portion of funding which includes either grant capital or an interest-free loan and overall personal development tools,” Trikamjee said.
Furthermore winners of the programme will be provided additional market access opportunities to expand their customer base, including exposure to big business.
SAB’s involvement with helping entrepreneurs develop successful businesses aligns with government’s goals to transform the small business sector.
The top three winners will be announced in November 2017.
Nhlanhla Nene Appointed To the Board Of Newly-formed Cape Town-based Investment Firm
Former finance minister Nhlanhla Nene was on Tuesday appointed to the supervisory board of newly-formed Cape Town-based investment firm, Arise.
Nene was fired as finance minister by President Jacob Zuma in December 2015 with a promise of a position at the BRICS bank which never materialised. He subsequently resigned as an African National Congress (ANC) member of parliament after his sacking and has since taken various private sector jobs.
In addition to being a non-executive director on the board of Allan Gray, Nene is the resident advisor for the Thebe Investment Corporation. He will assume the position of chairman of Arise from Thursday, 1 June.
Nene said it gave him great pleasure to serve on the Arise board and to be a part of their business journey.
“With the support of its shareholders, Norfund, Rabobank and FMO, Arise is uniquely placed to advance the financial services sector on the African continent and I look forward to contributing to their success,” Nene said.
The investment firm which came into being in February this year already has combined assets of $637 million, with its maiden deal, an acquisition of a 27.7 percent stake in CAL Bank in Ghana, concluded the same month.
Arise chief executive, Deepak Malik, said Arise’s mandate was to invest long-term in local banks in Africa in order to make banking more accessible to people and to grow the financial services sector.
Malik, in a statement, said that they were excited to have someone of Nene’s calibre on their board, and were grateful that he had chosen to accept the appointment.
“We are looking forward to Mr Nene’s strategic contribution to the board and we trust that this role will enable him to make the contribution that we believe he is capable of making, whilst at the same time advancing his own professional aspirations,” Malik said.
“Mr Nene’s extensive financial experience and background in the public and private investment sector will be invaluable in helping Arise to successfully deliver on its mandate of building strong and stable financial institutions on the continent.”
Malik said the main objective of establishing Arise was to strengthen and develop effective, inclusive financial systems in Africa in order to contribute to economic growth and poverty reduction.
The company was founded by three cornerstone investors, the Norwegian private equity firm Norfund, and Rabobank and FMO, both Dutch banks. (via African News Agency)
Black Business Council On Roadshow To Promote SMEs In Russia and China
President of the Black Business Council (BBC), Danisa Baloyi, will lead a business delegation to Russia and China to promote trade and investment in South Africa.
The 21st St. Petersburg International Economic Forum (SPIEF 2017), which will take place from June 1–3, and will be addressed by among others Klaus Schwab, founder and executive chairman of the World Economic Forum.
Schwab will speak on leadership in the fourth industrial revolution. The forum will also discuss how BRICS (Brazil, Russia, India, China, and South Africa) can boost economic cooperation.
The conference aims to bring together nearly 1,000 SMEs from BRICS countries and the world at large for matchmaking meetings and conduct a series of activities to strengthen trade and financial cooperation among BRICS businesses.
Baloyi will lead South African SMEs for “cross-border matchmaking” aims.
Deputy minister of trade and industry, Bulelani Magwanishe, will address a session focusing on the possibilities for initiating a new level of industrial and technological cooperation, and the support the New Development Bank can provide for projects implemented within the BRICS economies.
Baloyi and Magwanishe will also participate in a panel discussion that deals with Russia and Africa, “A Structural Approach to Cooperation in the New Economic Reality”.
Baloyi will also attend the “2017 BRICS High-tech SME Cross-border Investment and Trade Cooperation Conference” in Tianjin, China next week. (via African News Agency)