Black owned SMEs celebrated for creating jobs
IOL - ECONOMY / 01 AUGUST 2019 - 16:30 / STAFF REPORTER
JOHANNESBURG - Small to Medium size Enterprises were acknowledged at this year’s National Enterprise Development Awards (NEDA) event, hosted by Black Umbrellas, a Cyril Ramaphosa Foundation partner entity.
Black Umbrellas is an enterprise development incubation programme, which focusses on nurturing young businesses in South Africa.
According to the 2018 Global Entrepreneurship Index, only 15% of South African start-ups are successful. Research shows that South Africa has over 300 organisations that support entrepreneurs in the country, however the entrepreneurial participation is less than 40%.
As the country’s unemployment (38.3%) and youth unemployment (27.5%) continues to increase, now is the time to start supporting businesses that create jobs.
The NEDA awards are more than just a ceremony or box checking exercise, says Black Umbrellas CEO, Seapei Mafoyane, they are a celebration of excellence in businesses who are doing just that.
“South Africa is a magical playground for those of an entrepreneurial spirit and these awards serve to recognise our incubator’s top achievers – those who have learned to swing high and shine brightly - while highlighting the hard work and dedication that goes into ensuring that these 100% black-owned businesses are sustainable, profitable and create job opportunities within the communities they serve,” she says.
A vocal advocate for the support of entrepreneurs, Basani Maluleke, CEO of African Bank and South Africa’s first black female bank boss gave a keynote address where she congratulated the winners and applauded their success while highlighting the difficulties faced by entrepreneurs in the current tough economic climate.
Overall winners for the night included:
Most Jobs Created - Greeco Pty (Ltd)
Best Performing Company - Debar Ceramics
Best BU Ambassador - Nzalo Careers
People’s Choice - Khumalo & Mabuya Chartered Accountants
Incubator of the year - Lephalale Incubator
National Overall Winner - Debar Ceramics
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER