Making entrepreneurship happen: Imbizo Business Acumen Programmes graduates are empowered to grow their micro businesses. (supplied)
Twenty entrepreneurs from Mnquma Local Municipality in the Eastern Cape graduated yesterday as part of the IMBIZO Business Acumen Programme, which is a partnership between Nedbank, Old Mutual, Mutual & Federal, Masisizane and Wiphold, and various communities in the country.
The objective of the programme is to reduce unemployment through supporting entrepreneurship.
Gauteng entrepreneurs graduated in September while Mpumalanga business owners will be recognised in November.
Since inception in 2012, the programme has assisted more than 200 entrepreneurs by equipping them with skills to efficiently run their businesses.
“South Africa needs to move beyond talking about entrepreneurship and actually take concrete steps in actively empowering individuals who have embraced the entrepreneurial spirit.
"The IMBIZO Business Acumen programme is a demonstration of our joint commitment to the outcomes that are essential to addressing the country’s challenges such as unemployment and poverty,” said Debra Marsden, head of business transformation and public affairs at Wiphold.
Marsden said the programme was launched as a continuation of the IMBIZO concept, which is also championed by Nedbank, Old Mutual, Mutual & Federal, Masisizane and Wiphold with the aim of igniting economic activity in poor communities in South Africa.
“We are returning to Mnquma Local Municipality, where the pilot of the IMBIZO concept was launched and has since grown to be in 17 sites across four provinces, namely; Gauteng, Eastern Cape, Limpopo and Mpumalanga.
"Our commitment for igniting the entrepreneurial spirit is what continues to drive the success of the IMBIZO concept that led to the introduction of the IMBIZO Business Acumen Programme.”
Marsden emphasised that there’s a need for more initiatives to boost small businesses.
She said given that two-thirds of the workforce in South Africa is employed within small medium and micro-sized enterprises (SMMEs), ensuring the sustainability of this market is important to continue enabling sustainable economic growth.
According to StatsSA, SMMEs not only hire more people than any other sector, but they also contribute 60% towards the national gross domestic product.
This is not unique to SA; in many other parts of the world, including Spain, SMMEs make up about 80% of the market.
The Governor of the Reserve Bank of South Africa, Gill Marcus, recently noted that the rate of job creation had been too slow and not sufficient to absorb the people seeking work, and there is a need to create an enabling environment to be able to effectively fight unemployment.
The National Development Plan (NDP) notes that South Africa has an urbanising and youthful population.
According to this plan; achieving economic emancipation, empowerment should play a more transformative role, develop communities, change and improve the livelihood of people, inspire and enable them to realise their abilities and full potential.
We believe that empowerment is the development of knowledge, skills and the enablement of people to realise their abilities and full potential.
With the knowledge and skills that the Imbizo Acumen Programme have acquired, we know that they are well equipped to ensure that their businesses flourish, so congratulations for a job well done and we trust that they will make a difference in our communities through their businesses.
This article forms part of a supplement made possible by the Mail & Guardian's advertisers. Contents and photographs were supplied and signed off by Old Mutual and Nedbank