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Black owned SMEs celebrated for creating jobs

Published Aug 1, 2019

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JOHANNESBURG - Small to Medium size Enterprises were acknowledged at this year’s National Enterprise Development Awards (NEDA) event, hosted by Black Umbrellas, a Cyril Ramaphosa Foundation partner entity. 

Black Umbrellas is an enterprise development incubation programme, which focusses on nurturing young businesses in South Africa.

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According to the 2018 Global Entrepreneurship Index, only 15% of South African start-ups are successful. Research shows that South Africa has over 300 organisations that support entrepreneurs in the country, however the entrepreneurial participation is less than 40%.

As the country’s unemployment (38.3%) and youth unemployment (27.5%) continues to increase, now is the time to start supporting businesses that create jobs. 

The NEDA awards are more than just a ceremony or box checking exercise, says Black Umbrellas CEO, Seapei Mafoyane, they are a celebration of excellence in businesses who are doing just that.

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“South Africa is a magical playground for those of an entrepreneurial spirit and these awards serve to recognise our incubator’s top achievers – those who have learned to swing high and shine brightly - while highlighting the hard work and dedication that goes into ensuring that these 100% black-owned businesses are sustainable, profitable and create job opportunities within the communities they serve,” she says.

A vocal advocate for the support of entrepreneurs, Basani Maluleke, CEO of African Bank and South Africa’s first black female bank boss gave a keynote address where she congratulated the winners and applauded their success while highlighting the difficulties faced by entrepreneurs in the current tough economic climate.

Overall winners for the night included:

- Most Jobs Created - Greeco Pty (Ltd)

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- Best Performing Company - Debar Ceramics

- Best BU Ambassador - Nzalo Careers

- People’s Choice - Khumalo & Mabuya Chartered Accountants

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- Incubator of the year - Lephalale Incubator

- National Overall Winner - Debar Ceramics

 

BUSINESS REPORT ONLINE 

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