Small and Medium sized businesses in and around Thembisa will be the first enterprises to benefit from information shared at African Bank’s inaugural Enterprise Supplier Development (ESD) Summit being held between 1 – 2 September at the Hospital View Sports ground in Thembisa.
“Building an inclusive and thriving economy requires corporate investment in young SMMEs who, with the correct support and mentoring, can have a meaningful impact on their communities and even contribute to much needed employment,” says Edna Montse, African Bank’s Chief of Staff and Head: Transformation and Sustainability.
The summit forms part of the Bank’s larger capacity building programme, which was launched earlier this year in partnership with the 22 On Sloane Campus. The programme is designed to ensure business readiness and help SMMEs launch, scale and commercialise their businesses. It also assists with access to markets and funding.
“We are delighted to now roll out our programme and host our very first summit in Thembisa,” says Montse. She says SMME’s today face many of the same challenges African Bank experienced during its formative years and therefore believes the Bank is in a unique position to offer support and hopefully give back to the community by creating a much more robust and stronger supply chain that really creates value.
Montse says the bank is hoping to attract 500 – 1000 young township entrepreneurs, especially youth and women, who are ready and passionate about expanding and growing their business skills. “We understand some of these will require access to funding and others just require some business and networking advice.”
The summit will also be supported by a number of external partners including SEFA, SEDA, NYDA, Incubation hubs, Ekurhuleni LED and some private corporate brands, to name just a few. Over the two days, there will be a number of presentations focusing on the challenges entrepreneurs face and the opportunities and solutions that exist. Recipients will be able to ask questions and interact with their peers, as well as the various exhibitors taking part, who can all add value and provide support.
Montse says one of the programme’s key objectives is to ensure growth is not confined to just the main metropolitan areas. We are following the Summit with regional Lekgotlas to provide localised procurement opportunities for businesses that are meeting a direct need in that community.
“Our programme is therefore not aimed at creating mega empires, but rather recognising the important role smaller companies play in the community and their potential to provide job creation.” The regional lekgotlas will roll out before the end of 2022 and will comprise African Bankers, community members, SMMEs and other stakeholders who will be able to assess what support is required. This could either be financial or business mentoring support. Importantly, it is not about African Bank telling the community what it is that they should work on, but rather community members and SMMEs getting excited about something and using that energy to create change. ‘Its about empowering people to improve their lives.”
‘The programme must be interactive and collaborative. We are in a unique position to offer support and pass on learnings based on our own history. We see ourselves partnering with SMMEs who can, with the knowledge gained, play a key role in helping to build and shape their continued success. Ultimately, we want to create an ecosystem where businesses can talk to one another, collaborate, grow, and thrive,” she says.
