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Are You The 2018 Veuve Clicquot Elle Boss? Calling All South African Businesswomen, Applications Now Open

Are you the next #VeuveClicquotELLEBOSS?

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If you’re a powerhouse South African businesswoman, or know someone who is, the 2018 Veuve Clicquot ELLE Boss Award is now open. Showcasing entrepreneurial spirit, leadership, creativity and determination, the search is on for one woman who is redefining the world of business one decision at a time. Are you the next #VeuveClicquotELLEBOSS?

What makes a #VeuveClicquotELLEBOSS?

  • A natural leader in business
  • Entrepreneurial and creative
  • Business-minded and confident
  • Self-driven
  • Social media savvy
  • Risk-taker
  • Financially adept
  • Innovative

She’s a star in business …

“The world is in perpetual motion, and we must invent things of tomorrow. One must go before others, be determined and exacting, and let your intelligence direct your life. Act with audacity,” – Madame Clicquot, Veuve Clicquot.

How to enter?

For the Nomination Process, please take note of the Nomination Criteria below.

Women matching the criteria in the ENTREPRENEUR or CORPORATE category can either self-nominate, with a mentor or manager seconding their application. Or they can be nominated, however they will need to consent to the nomination.

Why enter?

A Veuve Clicquot ELLE Boss 2018 winner will be selected from all finalists for both the corporate and entrepreneurial categories. There will be one overall winner from these two categories.

They will be recognised at a bespoke event hosted by ELLE South Africa and Veuve Clicquot in Johannesburg on the 18th of October 2018.

In addition to the public recognition on the evening of the awards, the general press coverage, the winner will also receive one-on-one mentoring during a two-hour session with powerhouse business mogul Khanyi Dhlomo to ask personal, career and development questions. As well as features in ELLE South Africa (magazine and online /digital platforms), the winner will be flown to visit the prestigious Veuve Clicquot Maison and hosted by Veuve Clicquot in Reims, France, the home of Champagne. The trip will take place in 2019 and will include all flights, accommodation and a daily allowance.

The runner-up will receive a special Veuve Clicquot Experience, including a private dinner for her and five guests, to relax and unwind, to savour the recognition of her meaningful achievement to date as a Woman in Business (Terms & Conditions apply).


Four further runners-up will each receive a Magnum bottle of Veuve Clicquot. All finalists will be invited to attend the Veuve Clicquot ELLE Boss Awards event on 18 October in Johannesburg. Finalists must fly themselves if they do not live in Johannesburg and be responsible for their own accommodation.

Related: 30 Top Influential SA Business Leaders


All You Need To Know About The Elle Boss Award

elle-boss-competition

The Veuve Clicquot ELLE Boss Award has been created to showcase entrepreneurial spirit, leadership, creativity and determination and the search is now on for one woman who is redefining the world of business one decision at a time.

Using this powerful platform, and for the fourth year, Veuve Clicquot and  ELLE magazine set out to celebrate women who have been in business for at least three years – women already demonstrating clear signs of success, and/or, exceptional corporate managerial skills and a social conscience.

“The pillars of Ndalo Media can be summed up in two words: positivity and impact. This is why we’re thrilled to start a new search, in collaboration with our international partner, Veuve Clicquot, for the woman whose leadership qualities are resonant with the values of leadership that Ndalo Media has become known for celebrating and espousing,” says Khanyi Dhlomo, founder and CEO of Ndalo Media and ELLE publisher.

“The current Veuve Clicquot ELLE Boss, Amanda Dambuza, is a woman who embodies what it means to be a leader. Running a project management services company, Uyandiswa, which has scores of employees and makes a staggering annual turnover, and also mentoring girls through her social enterprise network, Dambuza demonstrates the qualities we’re looking for in the next Veuve Clicquot ELLE Boss,” Dhlomo adds.

“While every year, ultimately, one woman walks away with this prestigious award, this initiative is far-reaching in its impact. The women who make it onto the finalists’ list are truly impressive in their achievements and are worthy of admiration and honour. They are industry leaders, philanthropists, activists and entrepreneurs who are building leadership legacies that cultivate a culture of inspired positive impact. And so, we’re thrilled to launch the 2018 Veuve Clicquot ELLE Boss awards, which we see as a platform to establish formidable networks of outstanding women leaders; celebrate women who uplift and inspire others; and create new mentorship opportunities with a judging panel of highly esteemed women leaders.”

A Veuve Clicquot ELLE Boss is a natural leader in business, she is confident, strong and committed – a risk taker that is not afraid to think out of the box and ask for what she wants. In South Africa, where new research reveals that the percentage of women in senior management positions now is down from 23% last year*, gender empowerment in business is a top priority and ELLE and Veuve Clicquot want to challenge the status quo by recognising, rewarding and giving women the acknowledgement they deserve.

With both entrepreneurial and corporate categories, businesswomen all over South Africa are encouraged to enter now.

Why the partnership with Veuve Clicquot’s Business Woman Award?

“Veuve Clicquot is a proud supporter of women in business internationally, honouring our founder Madame Clicquot, who established herself as one of the first leading female figures in the world of business. Our prestigious Veuve Clicquot Business Woman Award seeks to identify and celebrate outstanding women and honour their entrepreneurial spirit. We are therefore extremely proud to partner with ELLE magazine in South Africa to present the Veuve Clicquot ELLE Boss Award. This award champions the success of South African business women who share the same inspirational qualities as Madame Clicquot: an enterprising spirit, creativity, courage, determination and, of course, success”, says Pascal Asin, Moët Hennessy Managing Director Africa and Middle East.

Who are the 2018 Veuve Clicquot ELLE Boss judges?

Judges will include Khanyi Dhlomo, Founder and CEO of Ndalo Media and ELLE publisher and Aimee Kellen, Regional Marketing Manager Moët Hennessy, with further judges selected from a wide range of women in leadership from various industries.

How are South African businesswomen able to enter?

Women matching the criteria in the ENTREPRENEUR or CORPORATE category could either self-nominate, with a mentor or manager seconding their application. Or they could be nominated, however they will need to consent to the nomination. 

What does the winning 2018 Veuve Clicquot ELLE Boss receive?

A Veuve Clicquot ELLE BOSS 2018 winner will be selected from all finalists from both the corporate and entrepreneurial categories. There will be one overall winner from either the corporate or entrepreneurial category.

They will be recognised at a bespoke event hosted by ELLE South Africa and Veuve Clicquot in Johannesburg on the 18th of October 2018.

In addition to the public recognition on the evening of the awards, the general press coverage, the winner will also receive one-on-one mentoring during a two-hour session with powerhouse business moghul Khanyi Dhlomo to ask personal, career and development questions.  As well as features in ELLE South Africa (magazine and online /digital platforms), the winner will be flown to visit the prestigious Veuve Clicquot Maison and hosted by Veuve Clicquot in Reims, France, the home of Champagne. The trip will take place in 2019 and will include all flights, accommodation and a daily allowance.

The runner-up will receive a special Veuve Clicquot Experience, including a private dinner for her and five guests, to relax and unwind, to savour the recognition of her meaningful achievement to date as a Woman in Business (Terms & Conditions apply).

Four further runners-up will receive a Magnum of Veuve Clicquot.

Related: 13 Female Entrepreneurs Rising To The Top In SA

What are the nomination criteria:

ENTREPRENEUR Category:

  • Age: Not younger than 25 and not older than 45 years of age.
  • Entrepreneurship: Founder/leader of a local business, driving force behind the success of the business. Displays a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity.
  • Financial Success: Sustained profitable growth and a healthy balance sheet with a minimum turnover of R1 million. The applicant must have been in business for a minimum of three years. She is the main shareholder of this business. Not for Profit organisations will be considered, however their justification on financial performance and development will be required. Fundamental measures of success are financial viability and year-on-year growth.
  • Social Investment: The candidate must have a genuine commitment to responsible and sustainable business practices, such as environmental policies, employee benefits, workforce diversity and community schemes/relationships.
  • Role Model: Mentoring, succession planning, pushing boundaries, ability to motivate others, relationship building with colleagues/employees, especially for other women.
  • Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  • Awards or recognition as a significant achiever: The candidate must show that she has personal brand strength.

CORPORATE Category:

  1. Age: Not younger than 25 and not older than 45 years of age.
  2. The candidate must work for a company with a minimum turnover of R15 million per annum.
  3. Management experience: The candidate should have no less than three years in a senior position and the entry must confirm the candidate’s advancement in business to date and chronicle success as a manager to date. The candidate should display a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity. She should also demonstrate leadership and team building skills.
  4. Role Model: The candidate will be assessed with regards to her contribution to mentoring, succession planning, pushing boundaries, and her ability to motivate others, relationship building with colleagues/employees and especially for other women.
  5. Social Leadership: Displays qualities of leading by example in any corporate CSI initiatives, public service.
  6. Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  7. Will need to demonstrate the success of their brand business personality through awards or recognition as a significant achiever.

Note: Importantly, the candidate is not an employer, major shareholder or owner of a business.

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AlphaCode Awards R16 Million To Fintech Start-ups In One Of SA’s Richest Start-up Initiatives

This R2 million scale up accelerator offers mentorship, expert guidance and support services to help these more established businesses to scale and create jobs.

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Last night, Rand Merchant Investment Holding (RMI), through AlphaCode, awarded entrepreneurial packages valued at R16 million to eight of South Africa’s most promising financial services start-ups. The entrepreneurial packages consist of R1 million in grant funding and R1 million in support, which includes mentorship, monthly expert-led sessions, exclusive office space in Sandton, marketing, legal and other business support services as well as access to the broader RMI network.

The AlphaCode Incubate initiative, in partnership with Merrill Lynch South Africa and Royal Bafokeng Holdings, identifies South African financial services entrepreneurs with extraordinary ideas and businesses that could impact the financial services industry. More than 200 start-ups applied to participate. Of these, sixteen made it to final pitch evening and eight recipients were selected.

The eight winning businesses are:

Name Description Founders Video link
Akiba Digital A gamified mobile app making it easier and more rewarding to set, manage and meet savings goals. Tebogo Mokwena and Kamogelo Kekana https://bit.ly/2yOjYoX

 

ISpani Group Provides access for insurers into traditionally under insured communities through prepaid vouchers and USSD sold by a network of spaza shop vendors. Prince Nwadeyi, Khathazile Moroe, Patrick Machekera and Louis Buys https://bit.ly/2CrgbkE

 

Jamii De-risks tenant rent default through offering tenants incentive-based discounts on food and transport and bolt-on retrenchment cover. Adrian Taylor, Marc Maasdorp and Bartek Dutkowski https://bit.ly/2ytdc8F

 

Nisa Finance An invoice financing platform that enables financiers to issue invoice-backed loans to SMEs quickly and affordably by fully-automating the application and invoice verification through ERP system integration. Thando Hlongwane, Tekane Ledimo and Sinqobile Mashalaba https://bit.ly/2yptcIW

 

Pago A low cost mobile micro payments platform for the informal sector to enable an inclusive economy by digitising remittances through the use of blockchain technology. Philip Mngadi and Noel Lynch https://bit.ly/2S1QKvn

 

Prospa A mobile savings wallet for low-income earning South Africans that makes it easy to save small amounts infrequently using prepaid vouchers. Dhanyal Davidson and Carl Ngwenya https://bit.ly/2JbwbJf

 

SELFsure Enables millennials to significantly reduce car insurance premiums by self-insuring part of the risk via peer to peer lending. Proud Chitumba, Amos Mugova and Tshepiso Shamane https://bit.ly/2J6HVfV

 

Yalu A self-service credit life insurance platform which replaces a customer’s current policy with a more affordable, simpler and rewarding policy. Nkazi Sokhulu, Tlalane Ntuli, Steve Goeieman and Life Mhlanga https://bit.ly/2PH87QF

 

The programme has disbursed R13 million in funding to 15 black-owned financial services businesses since it began three years ago. “Some have experienced exponential growth and we have been amazed at the level of traction they have received locally and internationally. The intention behind AlphaCode’s Explore, Incubate and Accelerate programmes is for RMI to discover the next OUTsurance or Discovery; we want to identify, partner and grow the future of financial services in South Africa,” says Dominique Collett, head of AlphaCode and a RMI senior investments executive.

During the event, contestants had just three minutes to pitch their businesses, with a couple of minutes set aside for questions from a formidable panel of judges. These included Phuti Mahanyele, CEO of Sigma Capital; Raymond Ndlovu, investment executive, Remgro; Nakedi Ramaphakela, finance director, Royal Bafokeng Holdings; Anthony Knox, MD Investment Banking of Merrill Lynch South Africa and Dominique Collett.

Julie Benadie, regional executive of Operations and Corporate Affairs at Merrill Lynch explained: “We believe in supporting disruptive ideas so that creative fintech solutions will emerge to address the challenges that South Africa faces. We want South Africa to become a fintech centre of excellence with its already advanced financial services infrastructure.”

The AlphaCode Incubate programme deals with common challenges that financial services startups face. All participants are early stage businesses, under two years old and at least 51% owned by black South Africans.

“AlphaCode is also now also seeking additional fintech entrepreneurs for our Explore programme. This offers a 12-month data science and business skills programme for 20 aspirant South African fintech entrepreneurs in conjunction with The Explore Data Science Academy,” Collett added.

Candidates will go through an intensive six-month data science-training programme, where they will learn how to design a 10X business along with the core digital skills needed to build a fintech organisation. This will be followed by three-months of business skills training. Interested fintech entrepreneurs should apply at www.alphacode-explore10x.club by 30 October 2018.”

In addition, AlphaCode recently selected four more established fintech businesses for its Accelerate programme: Entersekt, Livestock Wealth, Click2Sure and Invoice Worx. This R2 million scale up accelerator offers mentorship, expert guidance and support services to help these more established businesses to scale and create jobs.

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The Sky Is The Limit For South Africa’s Top Women Achievers

High-powered women achievers from across the private and public sectors, academia and diplomatic spheres gathered for a charged two-day conference in Johannesburg this week to share experiences about empowerment, achievement and the role that women are destined to play in a competitive global environment.

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Several hundred women attended the 15th Annual Standard Bank Top Women Conference which, with the Top Women Awards, has become one of the premier events for women on the national calendar. The objective of the gathering at the Maslow Hotel on the 17th and 18th of October, was to showcase the achievements of South African women and reignite their passion as they have major roles to play in all arenas of endeavour, says Ethel Nyembe, head of Card Issuing at Standard Bank.

“The delegates to the Top Women Conference were inspired by speakers such as Yvonne Chaka Chaka, singer, songwriter and an entrepreneur in her own right; Phuti Mahanyele, executive chair of Sigma Capital, a black-owned investment group, and political and academic stalwart Geraldine Fraser-Moleketi, now Chancellor of Nelson Mandela University and other women who are playing leading roles in many of the nation’s listed blue-chip corporations.”

“The overall message is that women are playing a central role in growing all facets of our economy and are helping to build a future from which other women can benefit and, in turn, inspire others. Women, regardless of whether they are entertainment icons, professionals engaged in helping shape the minds of future generations, businesswomen or scientists are part of building a new global reality.”

Related: 13 Female Entrepreneurs Rising To The Top In SA

To inspire delegates about the breadth and depth of the future for women, the conference examined all facets of economic life from the impact that IT and scientific research is having on building businesses, through to the development of entrepreneurs and leadership skills. Insights were offered through the contributions of speakers and roundtable panel discussions in which leading women offered observations and advice gathered from their vast experience.

“Standard Bank is proud of the role it has played in enabling women achievers to reach their full potential within its ranks. The bank also recognises that women across society have a broad role to play in the future of South Africa. It is through support for events like the Top Women Awards and the Top Women Conference that this approach is made visible and tangible.”

“We expect this year’s conference deliberations to deliver insights and inspiration that will not only spur established women to new heights of achievement, but also stimulate young women starting new careers,” says Ms Nyembe.

More information on the Top Women Conference can be found at https://topwomen.co.za/ and it can be followed on the #SBTWConference conversation on Facebook and Twitter  

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The Ins And Outs Of A Good Exit Strategy

The thought of parting with a business you’ve grown from the ground up may be unsettling, but Gugu Mjadu, spokesperson for the 2018 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARTNERS, says that it is better for both your business and yourself to plan for this as early as possible.

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“The challenge that business owners often face in this respect is comparable to the difficulty that many new parents have with imagining their children grown up and leaving for university. Imagine, however, if parents did not plan ahead for the cost of their education – that would be detrimental to the future of their children. The same could be the case for your business.”

Mjadu says that a good exit strategy is about sustainability and being able to measure your business performance against the goals you have set for it. “It’s really about being able to say, ‘this is when the work is done and I can exit the business or take on a different role – this is what success looks like in terms of monetary return on investment and other business growth indicators’.

“The lack of an exit strategy could be telling of a fundamental lack of measurable business goals and this needs to be addressed,” she says.

From immediate liquidation to liquidation over time; family succession; selling to staff or external investors; the open market or another business; or the gruelling but profitable exercise of taking your company public – there are many different ways in which an entrepreneur can exit their business, but Mjadu says that whatever the process, a strong and solid strategy is essential.

She shares five key points of a good exit strategy:

1. It tells you when you are done

Mjadu says that a good exit strategy should reflect a core understanding of all the intricacies of your business and should be able to tell you when the lifecycle of your business (or of your involvement in the business) should come to an end. This is usually done by including a set of tangible measurables or objectives so that it is easy to ascertain when these have been achieved.

Related: When Do You Know It’s Time To Sell Your Business

2. It sets out the right environment within which to exit

A good exit strategy considers the economic, social and political environment at the time of your exit. Mjadu says that this is important in order to plan for a secure financial future.

“Failure to think about this could result in short-changing yourself by exiting during a tough economic climate when the risk to buyers reduces the value of your business.”

She references the case of Victoria’s Secret when founder, Roy Raymond, sold the failing business for $1m unknowing that it would later grow into the multi-billion dollar empire it is now. “While Raymond’s exit was ultimately necessary for Victoria’s Secret’s growth, he sold it in 1982 during the global recession of the early eighties – one of the world’s biggest financial crises and this influenced the selling price at his exit”.

3. It compensates those who have contributed to the life of your business

It is important to consider the impact your exit could have on investors and staff, says Mjadu. “Closing shop for example, means that your staff no longer have employment at your business. Selling could mean the same.” She adds that it is important to consider ways in which your exit could also benefit these stakeholders – for example, selling to a bigger business could mean more career opportunities for your staff, as well as continued job security.

4. It compensates you

Mjadu says that entrepreneurs often struggle to recognise their own true worth, especially when this involves attaching a monetary value to what has been achieved. “The time of exiting a business is no place to short-change yourself. You need to get out the full worth of what you put in,” she says, explaining that this means ensuring that you are financially secure before and while you go into your next venture.

“Your needs for retirement and medical insurance, as well as the maintenance of your living standard, should be met at your exit.”

Related: Want to Exit the Company? Here’s Your Shareholder Exit Strategy

5. It sustains your entrepreneurial drive

Mjadu says that while you may be nearing the end of one journey, your exit should enable and encourage you to continue to be an entrepreneur – and to look forward to the next journey. “Your entrepreneurial skills and capacity do not end when you exit your business and whatever your strategy, it should egg you on to more entrepreneurial activity including becoming a mentor to aspiring entrepreneurs.”

Mjadu says that exiting your business should allow you a good retrospective look at what you have done over the years – and so planning the strategy early on in your business lifecycle will set you up in regards to what you hope to achieve. “Upon exit, you should be able to say that you have done what you set out to do, financially and socially, and you have some energy left to do more elsewhere.”

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