Kopano Monaheng
Majority of young South Africans are unemployment.
Many of these people are starting businesses with a hope that they would hire more people, one day, to help fight unemployment.
Though anyone can start a business, not all startups are successful.
Standard Bank understands that for small and medium enterprises to succeed, they need funding and ongoing support from bigger companies.
This is why the bank’s commercial and edge growth department established the SME Kasi National Challenge three years ago.
Naledzani Mosomane, head of enterprise and supplier development for business & commercial banking at Standard Bank South Africa, said through initiatives like this, they are helping township businesses to future-proof themselves, building the resilience needed to thrive.
Naledzani understands many startups businesses found it hard to secure funding because many didn’t meet the credit criteria.
However, they can now benefit from a half a million fund to strengthen their businesses.
She said the bank was targeting small and medium businesses owned and managed by black people to create more jobs for South Africans.
Ezimtoti News spoke to one entrepreneur who has just won the SME Kasi National competition.
Landile Mabele, CEO and founder of Ariel Robotics, runs his business in KwaZulu-Natal. It is an innovative drone technology company developing autonomous drones for inventory management and logistics, enhancing supply chain efficiency and warehouse operations.
Mabele encourages small and medium business owners not to fold their arms and do nothing while their businesses face challenges.
When asked about his win in the entrepreneurship challenge last week, this is what he said:
“Just to sum up the whole experience, I would say that I was over the moon with the whole pitch. And just to be crowned number four shows that what I’m doing really makes an impact and has a lot of potential to grow and scale in South Africa.”
“I just want to thank everyone who has supported us and the team because I’m not a one man show, but I have to really thank them,” said Mabele.
He said they are a team of seven people, and with more financial support coming their way they would be able to hire more staff.