Entrepreneur, author and professional speaker Vusi Thembekwayo
November is National Entrepreneurship Month. We speak to entrepreneur, author and  professional speaker Vusi Thembekwayo about the entrepreneurial spirit in South Africa.

According to Thembekwayo, "The only way to transform the South African economy is to  broaden economic activity."

While filming a recent  Capitec TV commercial  on taking credit  for the right reasons, Thembekwayo shared his views on credit as a tool for fostering  economic growth.

"I may be a plumber that needs to get a better bakkie. Credit creates the  opportunity for me to do that and in turn grow my business. We need to give people access  to credit for the right reasons. It can't be about consumption debt but rather productive debt."

South Africa's entrepreneurial spirit

As part of a recent online survey by Capitec to gauge consumers' "credit literacy", which saw  more than 5 300 responses, the use of debt for productive reasons was found to be a top  priority amongst South Africans. The most popular answer to the question "What would you  do with a R100 000 loan?" was "Start a business" (40%), followed by "Improve my  home/apartment" (24%), "Consolidate debt" (20%) and "Put a deposit on a home" (16%).

Francois Viviers, Executive: Marketing and Communications at Capitec Bank, had the  following to say about the findings: " The results are encouraging as they show that the South African entrepreneurial  spirit is alive and well. Credit is an important tool that has enabled many South  Africans to breathe life into their entrepreneurial ideas. Our current Rethink Credit  campaign is all about this, taking credit for the right reasons and realising  responsible dreams."

South Africans: "Box above our weight"

Thembekwayo continued his commentary by sharing his views on South Africa: "South  Africans must never lose heart of what our identity truly is…We always do better when we  are together."

Referencing actress Charlize Theron, athlete Wayde van Niekerk and  comedian Trevor Noah he says: " As South Africans, we box above our weight…that's what it means to be a South  African. We take a girl from Benoni and she gets an Oscar. We take a boy from the  Free State and he breaks Michael Johnson's 400-metre record. We take a kid from  Soweto to host a show in New York and he becomes a global sensation."

An inspirational example of someone that used responsible credit to box above their weight, indirectly stimulating the economy, is Tshegofatso Makgabutlane.

Struggling with the  frustrations of public transport, Makgabutlane used her savings as well as a loan from  Capitec to purchase a vehicle. She was able to pay cash at the dealership, which allowed  her to get a discount on the purchase price. Her new wheels enabled her to look for work in  the nearby town of Potchefstroom. Her application for a job at North West University was successful  and she is now a Higher Degrees Administrator.

Four tips to using credit for the right reasons
* This article was published in partnership with Capitec.