Small and micro business owners get equipped to run sustainable businesses
No fewer than 48 micro business owners will graduate from a business training programme that has equipped them with basic business management skills. The Imbizo Business Acumen Programme, sponsored by Old Mutual, Nedbank and black business partner, Wiphol
The programme also provides mentoring to people who are already running their own small and micro enterprises. The graduates are involved in businesses ranging from spazas/taverns to small scale agriculture, general dealers, tourism and IT.
The first batch of graduations takes place in three provinces, starting in Centane, Eastern Cape on 5 October 2012, followed by Acornhoek, Mpumalanga and Kliptown, Gauteng.
Started in March 2012, the Business Acumen Programme pilot is part of the commercially oriented Imbizo partnership programme, launched by Nedbank, Old Mutual, Wiphold and Mutual & Federal in 2008 to build sustainable and economically active rural communities.
“The Imbizo Business Acumen Programme is a demonstration of our ongoing strategy to encourage financial inclusion through providing access to banking services. The programme also advances our commitment to contribute towards building a sustainable economy by supporting the small and micro business sector, which has the potential to boost economic growth and create jobs,” said Jake Oosthuizen, Nedbank’s Head: Black Business Partners & Alternative Segments.
His sentiments are echoed by Simpiwe Somdyala from Old Mutual’s Masisizane Fund: “We are excited about the success of this programme which will see these micro businesses increase their contribution to the country’s economy in the long run. Our Micro MBA offering to our existing Masisizane clients provides the same support as the Imbizo programme to ensure sustainability and growth of a sector that plays a significant role in the country’s GDP.”
The collaboration between Nedbank, Old Mutual, Mutual & Federal and empowerment partner Wiphold is steadily emerging as a benchmark for all empowerment partnerships in the country.
