Black owned SMEs applauded for creating new jobs

0

Small to Medium size Enterprises (SMEs) were acknowledged at the 2019 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. They are a celebration of excellence in businesses who are doing just that,” says Seapei Mafoyane, Black Umbrellas CEO.

“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, African Bank CEO 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

  • 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

Share.

About Author

Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 16 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

Leave A Reply