Entrepreneurship Archives - AfricaBusiness.com

18Dec

By Africa BusinessNo Comments

Unleashing Africa’s potential: A vision for innovation and entrepreneurship

SA Innovation Summit CEO Buntu Majaja looks back at this year’s successes and quantifies next year’s opportunities. - SAIS2023 brought together 2,600 innovators from 26 countries - The investment capital in attendance equalled around R30 mbillion - Startups are pivoting to or building on AI In the dynamic world of technology and entrepreneurship, the courage and determination of startup founders is invigorating. As the CEO of the SA Innovation Summit, witnessing these entrepreneurs, often unsure of their own capabilities until the moment of truth, fuels a passion for the role and a deep sense of responsibility as an enabler for the industry. It’s believed that everyone possesses an innate desire to contribute positively to the world, and it is this entrepreneuria...

Education needs to ignite entrepreneurship

10Jun

By Africa BusinessNo Comments

Business, Science

Education needs to ignite entrepreneurship

By PROFESSOR AHMED SHAIKH, MD REGENT BUSINESS SCHOOL GLOBALLY the perennial battle to alleviate poverty is an enduring one and in this respect South Africa is no exception. According to Statistics SA almost half of the adult population in our country is living below the upper-bound poverty line. While the battle against poverty has been a difficult one, the recent Covid-19 pandemic has exacerbated the situation, especially in terms of poverty rates, the economy, health, education and employment prospects. In addition to the pandemic, the country is also in its worst economic recession in 100 years. South Africa’s unemployment rate rose to 32.6 percent in the first quarter of 2021 from 32.5 percent in the previous period (Trading Economics -2021). Stats SA also confirms the official unemp...

How to start a business with almost no money

22Dec

By Africa BusinessNo Comments

Business, South Africa News, Startups

How to start a business with almost no money

By Catherine Wijnberg One of the questions I am most frequently asked is: “How can I get funding to start my business?” Today’s Google search will give you 340 million answers to this question. But if it’s just one good answer you need, this one might help. The reality is that most new businesses start with very little money. I started Fetola from my dining room with one laptop and an idea. Similarly, Microsoft founder Bill Gates, Apple founder Steve Jobs and South African whizz kids Elon Musk and Mark Shuttleworth all started globally successful businesses from their garages, relying mainly on their skills and hard labour and some help from friends and relatives. Closer to home, Helena van der Westhuizen from Simply Bee, South Africa’s fast-growing, natural skincare company, developed ...

45 entrepreneurs from Africa attended the sixth edition of the SIBC

19Dec

By Africa BusinessNo Comments

Events, Startups

45 entrepreneurs from Africa attended the sixth edition of the SIBC

From November 23 to 29, 2022, 45 entrepreneurs from 18 African countries met in Marseille for the 6th edition of the Social & Inclusive Business Camp (SIBC) - an acceleration programme for African social and inclusive businesses. After three months of online training and mentoring, the winning entrepreneurs took part in an intensive week-long bootcamp with training modules, personalised coaching and networking opportunities, finishing with pitch sessions in front of key financial stakeholders in Africa during the EMERGING Valley Summit. THE SIBC - A PROGRAMME TO ACCELERATE SOCIAL AND INCLUSIVE COMPANIES IN AFRICA The Social & Inclusive Business Camp (SIBC) is an acceleration programme that has been supporting African social and inclusive businesses that are looking to scale up fo...

What no one tells you about entrepreneurship

14Nov

By Africa BusinessNo Comments

South Africa News

What no one tells you about entrepreneurship

How one small business beat the odds and secured a coveted contract with Shoprite Checkers By Terrena Rathanlall, Fetola SME Media Portfolio Manager You could be forgiven for thinking that the Instagram story about the businessman with the flashy car and mansion in the background is a realistic depiction of entrepreneurship. It could not be further from the truth. What no one tells you about entrepreneurship is that success does not happen overnight, your family will probably call you crazy (and not behind your back) and you will want to quit. These are things Nigel and Christynn Jacobs know all too well. For the past four years, they have been steadily building their business - Jacobs Jam in the lush Ceres valley and growing their reputation as the only pomegranate jam manufacturer in...

10 Top Lessons From Leading Entrepreneurs

9Nov

By Africa BusinessNo Comments

Business, South Africa News

10 Top Lessons From Leading Entrepreneurs

Being an entrepreneur is no easy feat, but with a clear plan, passion and hard work – a lot is possible. As we enter Entrepreneurship Month, we speak to entrepreneurs from different fields and industries about their success and ask them their key tips on achieving greatness! From Ignite Fitness’ CEO, Schalk Hugo and internationally acclaimed Interior Designer Tammy Holmes to the Founding Owner of Just Breethe, Marc Barnfather as well as the innovative Founder of Sloom, Rudo Kemp – you are sure to walk away feeling inspired! Schalk Hugo is the Founder and CEO of Ignite Fitness and his main entrepreneurial mantra is “to get more time on the clock than others. Schalk says “hereby meaning that typically I'll start at 3am and finish at 8/9pm daily 5 days a week. All that this means is; ...

15Jan

By Africa BusinessNo Comments

South Africa News, Startups

Make a success of sustainability: An innovative incubator aimed at equipping entrepreneurs to build the green economy

According to a recent study by the Council for Scientific and Industrial Research (CSIR), transitioning to a more circular economy can create value across all sectors of the economy. The circular economy promotes sustainability, and the sector consists of businesses that focus on eliminating waste, leading to improved efficiency and greater profit margins. Sixty-five entrepreneurs will have the opportunity to join an 18-month innovative incubator programme that maximises the success of their businesses. The Fetola Circular Economy Accelerator (CEA) is a unique initiative that aims to provide South African entrepreneurs looking to scale their businesses in the circular economy with unparalleled access to mentoring and skills development. Businesses in the circular economy have the potenti...

22Dec

By Catherine WijnbergNo Comments

South Africa News, Startups

Why the sector is fertile ground for South African entrepreneurs

By Catherine Wijnberg, CEO of Fetola South Africa needs entrepreneurs to reverse our shrinking economy and high unemployment rate. And while they face numerous barriers in almost every sector, there is one industry that offers them the key to success: The circular economy. Only about 1% of micro-enterprises[1] in South Africa, starting with one to five employees, will grow to employ more than 10 people. This means most entrepreneurs will face so many barriers they will make little meaningful difference to unemployment in the county. But this is not the case within the circular economy. The circular economy consists of businesses that focus on eliminating waste. Circular thinking goes beyond the reduce, reuse and recycle focus in the green sector to design out waste altogether. It promo...

19Nov

By Africa BusinessNo Comments

South Africa News

Getting SA’s Social Entrepreneurs Investment Ready

The impact investing market now stands at around US$715 billion globally and this figure is climbing steadily[i].What’s more, 43% of impact investors have funds allocated to Africa, with 52% of investors planning to increase their African investment over the next five years[ii]. With South Africa being the largest market for impact investing within Southern Africa[iii], are our social entrepreneurs ready for this investment? Ashleigh Sibanda, Programme Manager: Business Incubation at business growth specialists Fetola explains that investment readiness refers to the capacity of an enterprise to understand and meet the specific needs and expectations of investors. “While there are thousands of social enterprises in the country, not all of them possess this. In fact, the World Bank cites th...

12Nov

By Africa BusinessNo Comments

Fintech, Startups

Failing To Win

A new book from Burnet Media, Cape Town will inspire and guide the next generation of African entrepreneurs. Failing To Win by Mike Quinn is the authentic story of a uniquely African startup at the forefront of the continent’s fintech revolution. Inspired to become the “M-Pesa of southern Africa” after Kenya’s pioneering mobile money innovation, Zoona secured tens of millions of dollars in international investment and grew to serve two-million customers in Zambia, Malawi and Mozambique while processing $2.5-billion in transactions. This is an ideal read for anyone doing business or investing in Africa, and in particular for purpose-driven entrepreneurs and impact or venture capital investors. ABOUT THE BOOK In 2009, Canadian entrepreneur Mike Quinn packed his backpack and moved to Lu...