Category SMMEs

Masisizane Fund reveals the recipe for successful development of local SMMEs

17 May 2017 Zizipho Nyanga, Masisizane Fund
Zizipho Nyanga, CEO of the Masisizane Fund.

Zizipho Nyanga, CEO of the Masisizane Fund.

“Less talking and more action is needed if small, local businesses are to thrive,” this is according to Zizipho Nyanga, CEO of the Masisizane Fund. She adds that practical plans to partner and collaborate with local businesses is required if the country is to create meaningful development of entrepreneurs.

The Masisizane Fund will be hosting the second stakeholder workshop in Gauteng this month, “We have travelled to all corners of our country and have received very favourable feedback from our stakeholders; and on Wednesday, 17 May 2017, our Gauteng partners in both public and private sector will be meeting to discuss how to strengthen the existing partnerships in the second workshop. These are positive sessions where feedback is given to us outlining ongoing needs, and requirements to bridge any gaps there may be. These sessions are extremely constructive as we all want to achieve the common goal of eradicating poverty through job creation,” says Nyanga.

Established in 2007, following the closure of the Old Mutual Unclaimed Shares Trust, this non-profit company provides integrated loan financing, business support, and mentorship to high-potential black-owned SMMEs.

Nyanga explains, “In these workshops our partners have an opportunity to share how they can foster functional collaboration efforts by looking at specific projects to partner on and relate their experiences working with the Fund. We are excited to say Masisizane is indeed living up to its name and ‘partnering for a brighter tomorrow’”.

As Masisizane Fund approaches its 10th anniversary, Nyanga says that they would like to celebrate the success the Fund has enjoyed, and showcase the legacy built over the past decade. “We are also looking forward to a bright future – including more job creation, further boosting economic growth and transformation, and achieving more significant milestones on the journey ahead”.

To boost effectiveness the Fund also runs a roadshow together with an award ceremony among different South African provinces challenging its SMME partners to excel. Nyanga explains, “It is more than just about being the winner – it is about that small business that has contributed the most to the greater good of our country!”

The awards will celebrate SMMEs for excelling in the following categories:

• Best Female Owned Business Award
• Best Youth Owned Business Award
• Best Employer Award
• Entrepreneur of the Year Award
• Business of the Year Award

Nyanga concludes, “We are looking forward to a meaningful celebration in July, the month that marks a decade of the fund’s contribution to the economy through significant job creation”.

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