The platform allowed the small businesses to pitch for funding, connect with potential partners and showcase their work to a global audience
In a significant boost to South Africa’s small and medium-sized enterprises (SMEs), Brand South Africa and Business Unity South Africa (BUSA) partnered with Absa to sponsor 15 local entrepreneurs to attend the prestigious London Investment Week and the Investing in Africa Conference (AFSIC). This initiative aimed to showcase South Africa’s vibrant SME sector, foster cross-border collaboration, and attract investment.
Absa, a leading African bank, recognised the potential of SMEs in driving economic growth and job creation. Ronnie Mbatsane, Managing Executive: SME Business, emphasised Absa’s commitment to empowering entrepreneurs: “We believe in the potential of African entrepreneurs to drive economic growth and create sustainable jobs, and we are committed to supporting them every step of the way.”
The 15 selected SMEs participated in the South African Business Showcase, part of London Investment Week, from September 30 to October 4, 2024. This platform allowed them to pitch for funding, connect with potential partners, and showcase their businesses to a global audience.
The entrepreneurs benefited from a five-day immersion program, including:
– Practical workshops
– Networking opportunities
– Site visits
– Mentorship from industry experts
Collaboration and Investment Opportunities
The initiative facilitated collaboration between South African and UK entrepreneurship ecosystems, focusing on:
– Connecting SMEs with major businesses and investors
– Facilitating market access
– Exploring funding opportunities
The Department of Small Business Development, the South African High Commission in the United Kingdom and Northern Ireland, Brand South Africa, and other key institutions supported Absa’s efforts. The Deputy President of South Africa, Paul Mashatile, attended the opening gala dinner, reinforcing the government’s commitment to promoting investment and economic growth.
Brand South Africa, in collaboration with BUSA, Infrastructure SA, and Absa, hosted a South Africa Investment Summit on October 9, 2024, as part of the Invest in Africa Conference program. The summit targeted prospective investors and fund managers, highlighting South Africa’s value proposition as an investment destination.
The partnership between Brand SA, BUSA, and Absa demonstrated a commitment to empowering South African SMEs and promoting economic growth. By providing access to funding, mentorship, and international markets, this initiative paved the way for sustainable business development and job creation.
The AFSIC 2024 gallery is now LIVE: https://www.afsic.net/afsic-2024-gallery/
You can also view YouTube videos from the event here: https://www.youtube.com/channel/UCOhexqL0bfF29kIQ5j0sA3w