There are various ingredients used when baking bread, and no organisation knows this better than the Pioneer Foods Group. Just like bread, sustainable businesses are built when the right ingredients are used. This is the analogy that the Pioneer Foods Group has used in approaching its Enterprise Development (ED) project. Ingredients are elements, and in the business context these include an idea or business plan, business partners or beneficiaries, documentation (especially in the case of ED projects), tangible assets and funding. For each type of business there are variations in the amounts of each ingredient, but the basics stay the same.
The ‘salt’ in the mix of starting a business is mentorship. When an individual or a bigger business provides mentorship to SMEs and smaller companies receive mentorship it becomes a win-win situation with both partners benefitting from the relationship. While the SME will gain knowledge and learn from someone else’s mistakes, the individual or corporate providing the mentorship will gain BEE scorecard points and build its network of suppliers while focusing on significance and leaving a legacy. The person being mentored will also gain a different perspective on business issues and will be enabled to look at problems from a different angle. Having a mentor also provides that ‘someone’ to talk to, bounce ideas off and the knowledge that someone is on your side, believing in you. Entrepreneurship is a lonely place to be. Mentorship fills that gap.
Taking mentorship seriously
To benefit from the many advantages of mentorship the mentor has to be committed, expecting results and helping the entrepreneur to stretch his/her abilities. Ellen Odendaal, enterprise development manager of Pioneer Foods Group, spoke at the Africagrowth SMME Conference at Goldreef City in October 2011. She declared that, through the enterprise development programme, mentorship is taken seriously at Pioneer Foods. “Beneficiaries are chosen from the agricultural industry, which results in an improved value chain for Pioneer Foods.
Projects are built on definite principles and include transfer of skills, good corporate governance and financial management and leadership development of suitable beneficiaries. Mentors are catalysts for the development of new ideas, they transfer business and agricultural knowledge and are expected to analyse the original business plan of a beneficiary to measure the success of the intervention and to suggest and implement the necessary changes to the original project plan when circumstances surrounding the projects change. The mentorship programme guides entrepreneurs through the pitfalls of growth.”
Lulu Khumalo, executive of corporate affairs and sustainability at Pioneer Foods, says that the herence at Goldreef City, is one of the major variables impacting on the chances of success of a businesses support SMMEs”s enterprise development oneer Foods.n seriously.ndrs through the pitfalls of growth. the success of the intervention. ship is a lonely place tostrategy and policies are constantly revised to ensure that ED remains relevant and leads to broad-based and meaningful participation in the economy by black people. Sustainable development remains a focus in conjunction with increasing the extent to which black women own and manage existing and new enterprises, increasing their access to economic activities, infrastructure and skills training.
In starting and building a business, there are many challenges that an entrepreneur has to cope with, including various macro and micro environmental issues, lack of resources and multiple relationships. Through mentoring, an entrepreneur can be supported to cope with challenges and navigate around macro environmental changes. A sound mentoring programme will encourage collaboration between clients and suppliers, assisting the supplier to understand the needs of the client, improving communication throughout the supply chain, assisting in the decision making processes, leading to career development and strengthening quality of delivery from suppliers. The business benefits are combined with the effect on company morale, knowing that something good is achieved and an impact is being made of the success of entrepreneurs. Bonnie Jean Wasmund stated that; “People will forget what you said, and what you did, but will never forget how you made them feel”.
“Mentorship is to identify with a person and help them have confidence and a high self worth”, concludes Odendaal. “Entrepreneurship and, specifically agricultural entrepreneurship, can have a huge impact on the stability and economic well being of a country. It is important that corporates support SMMEs. Having the correct support is one of the major variables impacting on the chances of success of a business”.
10 African Innovators Selected For Global Accelerator Startupbootcamp Afritech
Startupbootcamp AfriTech empowers the top innovative African tech startups, linking them to the fastest-moving corporates on the continent.
Startupbootcamp (SBC) AfriTech today announced the Top 10 African Innovators selected to participate in the globally renowned, multi-corporate backed accelerator programme for 2018.
Post an intensive 3-month global scouting tour, across 15 countries, and inclusive of 19 FastTrack events and 220 face-to-face startup engagements, the SBC AfriTech team received 1,004 applications from 73 countries in total, attracting double the applications from its inaugural launch in 2017.
The applications were shortlisted to the top 22 startup teams that were flown down to pitch their businesses over 2-days to some of the most progressive leaders in the innovation space in Africa, including corporate sponsors, mentors and investors.
The SBC AfriTech programme (previously SBC Africa) ended on a record high in 2017 with 32 corporate agreements in pilots and proof-of-concepts signed by close of the accelerator.
“Our inaugural year was big, it was bold,” comments Zachariah George, co-founder and Chief Investment Officer of SBC AfriTech, “Our phenomenal success of last year has made us the only truly global accelerator for tech ventures in partnership with dynamic corporates on the African continent – we are accelerating the next wave of innovation in Africa.”
The top 10 African Innovators selected are:
- Akiba Digital, South Africa: A financial savings platform and personal savings coach that leverages A.I., machine learning and gamification to democratize wealth in Africa.
- Bankly Technologies, Nigeria: A goal-based savings product that digitizes cash and enables in-country, peer-to-peer transfer services through the use of vouchers available nationwide.
- Brandbook Analytics, South Africa: A mobile application providing users free gift-card coupons for completed purchases with the ability to harvest vast amounts of consumer data and improved forecasting and analytics.
- CredPal, Nigeria: An innovative solution using deep data that provides individuals with instant access to credit at the point of checkout for various online and offline merchants.
- Digitech Group, Ivory Coast: Provides incumbent insurance companies an omni-channel and cloud-based digital platform to sell insurance products through mobile and web.
- Inclusive Financial Technologies, Ghana: Inclusive FT’s API helps digital financial services reach the most remote customers across Africa by enabling them to onboard, verify and monitor them via digital channels.
- Kudimoney Bank, Nigeria: A no-charge, full-service, online-only bank making banking services more affordable and more accessible by offering an interest-earning spending account with zero charges, a savings account with above-average interest rates and access to low interest instant loans.
- Lüla, South Africa: A mobility-as-a-service platform that connects stakeholders to improve mobility by providing transport that is convenient, accessible and safe and enabling operators, cities and passengers to have easy access and understanding of transport.
- MPost, Kenya: A patented solution providing legally recognised physical addresses for the 95% of the African population that do not have a postal address.
- Prospa, South Africa: A micro-savings solution for low-income earning South Africans, allowing users to purchase savings vouchers at traders that entitle the user to a set amount of savings which are deposited into a mobi-savings account.
The 10 selected tech startups have a month to ready themselves for the 3-month accelerator that will kick off on August 13th in Cape Town and culminate with the Demo Day on November 8th when they will pitch to the world.
To the Top 10, Philip Kiracofe says: “You are here because your solution is market-ready and the sponsors want to work with you starting from today. The next 3 months are going to be absolutely exhilarating. We are going to be here side-by-side, shoulder-to-shoulder, pushing you, cajoling you, encouraging you, nurturing you, mentoring you and helping you achieve 12 – 18 months’ worth of growth in a 3-month span. On Demo Day you’re not going to believe that just 3 months ago you were standing where you are today. Congratulations and good luck.”
SBC AfriTech is anchored and endorsed by heavyweight corporate sponsors RCS, BNP Paribas Personal Finance, Old Mutual, Nedbank and PwC. The programme also has local service partners Brevity Law, Cloudworx, Inner City Ideas Cartel, and The Loudhailer and is globally supported by Google Cloud, Cisco and Amazon Web Services.
Annual Show Fundex To Reveal Entrepreneurs Funding Secrets
Riversands Incubation Hub is set to host its third annual FundEX event at Riversands on Thursday 16 August 2018.
Last year’s FundEX brought together more than 600 entrepreneurs seeking funding for business expansion. This year’s one-day conference and expo is set to create numerous golden opportunities for entrepreneurs needing access to funding.
FundEX carries the theme ‘Secrets of Scale’, and will unpack what it takes to build a ‘fundable’ business, featuring entrepreneurs who have attracted funding and built successful businesses.
“We measure the success of FundEX against the number of entrepreneurs who secure funding after the event. Contrary to popular belief, there is funding available. This event aims to provide practical guidance on what funding is available and what it takes to access this capital,” says Jenny Retief, CEO of Riversands Incubation Hub.
While Riversands does not provide funding, the organisation plays a role in bridging the gap between entrepreneurs and the many players in the funding space.
This year’s FundEX will extend beyond the one-day event and includes 10 places for entrepreneurs to work with a finance coach with insights from funding experts to prepare for funding. “We will walk this funding journey with these selected entrepreneurs,” adds Retief. Entrepreneurs attending FundEX can apply to be selected for this ‘fast-track’ process.
Entrepreneurs will also have the opportunity to interact with a variety of funders including banks, government funders and alternative funding platforms in the funders’ lounge during the show. Appointments with funders can be booked on the day, with the lounge opening at 10:00 and running to 15:00.
The one-day event runs from 09:00 to 16:00 and is open to the public, with tickets available online at http://www.fundex.co.za priced at R350 per head.
Riversands Incubation Hub is located off William Nicol Drive near Dainfern.
What Is South Africa Day?
Celebrated annually on the last Saturday of November, South Africa Day is dedicated to nation building where South Africans are inspired by the spirit of our common citizenship, values and constitution to forge a unity that is unique to our land and people.
Drawing inspiration from an auspicious moment in South Africa’s history when 26 political parties signed the Interim Constitution in November 1993; South Africa Day is not a public holiday, but a day of celebration and of community togetherness that is supported by South African business, and driven by ordinary citizens.
South Africa Day is therefore a day on which projects, celebrations and events aimed at community building are undertaken throughout the nation. While South Africa already has many specific focused days viz. Youth Day, Women’s Day, Worker’s Day, Mandela Day (service to humanity, with international focus), Heritage Day (cultural diversity), there is no day set aside for the deliberate bringing together of South Africans as a whole. South Africa Day is intended to bring a sense of urgency to addressing the challenges facing South Africa within the global economy, and those facing the nation in its politics and in the fracturing of social cohesion.
South Africa Day is the brainchild of Dr Bheki Shongwe; whose vision was brought to life through the support of prominent members of South African society who have dedicated their lives to building our country. Archbishop Thabo Magkoba, Advocate George Bizos, Father Smangaliso Mkhatshwa, Professor Wiseman Nkuhlu and Dr Enos Banda are patrons of South Africa Day. Of course, the contribution of our sponsors and the value they have added cannot be stressed enough.
Noteworthy activities to date include The Foschini Group’s vibrant approach to an in-house display in celebration of South Africa Day in November 2017 where staff where encouraged to sign the South Africa Day Pledge and Declaration. The Foschini Group has set in motion what South Africa Day hopes will be one of hundreds of events that will be organised by South Africans citizens in the future.
Nation building is important to inculcating a feeling of belonging and with it accountability and responsible behaviour (National Planning Commission: 2011). Central to South Africa Day’s efforts toward nation building is active citizenship in community upliftment in partnership with business and community organisations. As such, the organisation has a number of Flagship Projects that are being activated.
One project that is already coming to fruition is that of the South Africa Day Towns Makeover Initiative; wherein NWK is the proud premier sponsor. Spearheaded by South Africa Day Chief Operations Officer Barend la Grange, the town of Coligny was selected out of 6 towns in the North West province.
Coligny was a town plagued by racial fragmentation and tension following the death of sixteen-year-old Matlhomola Jonas Mosweu and the subsequent riots; and rising out of such a difficult situation especially with the events that have further divided the society being so recent, is not an easy feat. However, the Cleaning, Reparation, Painting and Planting (CRPP) beautification process, through the commitment and efforts of the local community and local business saw sponsors from outside of Coligny viz. Promac and PowerRock step in to work with the local community and business by sponsoring products and service. Prior to implementation and for the purpose of this project in Coligny, research was undertaken by the Urban and Regional students of the North-West University, under the leadership of Prof Juaneé Cilliers.
South Africa Day is immensely proud of the progress to date and plans are already under way to ensure that the objective is not just to make the town attractive in an effort to instil pride in its residents and visitors but to create an environment that is investor friendly. Chris Hart, Marius Joubert and other key economic and financial experts and interest groups are collaborating with the Coligny Forum around medium and long term investment in the town that will have sustainable impact through job creation for the local communities of Coligny, Scotland and Tlhabologang. After all, the beautification process of the town has to be accompanied by improvement of the socio-economic circumstances of citizens for the South Africa Day Towns Makeover Initiative to have a more long term, meaningful impact.
South Africa Day would love to see all South Africans get excited about and pledge support for, South Africa Day by adopting the South Africa Day Pledge and Declaration: http://www.southafricaday.org.za/Pledge/PledgeDeclaration.
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