Women entrepreneurs geared for success with "Imbokodo Iyazenzela" initiative
12 MAY 2016 | SAVE | EMAIL | PRINT | PDF ISSUED BY: ITHALA DEVELOPMENT FINANCE CORPORATION
A development programme targeting women entrepreneurs in mainly rural areas across KwaZulu-Natal will see thousands of them getting closer to realising their dreams of achieving better socio-economic conditions.
“Imbokodo Iyazenzela”, an isiZulu phrase which means “Women doing it for themselves”, is a unique enterprise development journey which seeks to acknowledge dynamic women making a positive impact in their communities on a public platform.
Ithala Development Finance Corporation develops and supports programmes that create an enabling environment for women entrepreneurs based on three key priority areas, viz. rural development; township revival; and youth and women empowerment.
The programme which involves a series of informative breakfast workshops across the KZN province over a three-month period, was piloted in 2015 and reached 1041 women in 16 towns.
The majority of women who attended the workshops were 38 years and older, thus pointing to the enterprising nature of this group.
“The 2015 workshops provided key insights into the challenges experienced by women when starting, sustaining and growing their businesses which gives us leverage to be able to change the status quo,” said Thuli Galelekile, Ithala Group Communications and Marketing Divisional Manager.
“The four broad categories of concern were access to markets; access to finance; access to business support; and marketing and sales.
“This year, we are taking a stance against poverty and inequality and have partnered with several stakeholders to develop strategies for revitalising rural businesses. The aim is to see more businesses that are thriving, sustainable and successful.”
She said the programme was aimed at delivering on Ithala’s brand promise which is underpinned by three pillars – Hope, Access and Opportunity.
Several workshops will be held from May to August, the details of which will be made available in the local press and aired on community radio stations.
Delegates who attended the first workshop in Pietermaritzburg on 10 May were positive about their experiences.
Pretty Madela, a business owner in the fashion industry, said: “Among some of the challenges I experience are access to markets, competitors and finances. The workshop was very helpful. Representatives from SEDA have answered some of the problems that we encounter.”
Dudu Zulu, who is in the concrete manufacturing business, said: “Access to markets is a particular challenge for my business. The workshop was very informative and I benefitted greatly by coming here.”
Strategic partners on board include the Small Enterprise Development Agency (SEDA); The South African Revenue Service (SARS ) KZN Economic Development Tourism and Environmental Affairs (EDTEA); Small Business Growth Enterprise (SBGE); Durban Business Chamber of Commerce and Industry; Companies and Intellectual Property Commission (CIPC); Business Women’s Association South Africa; KZN Treasury; and District Municipalities’ Local Economic Development offices.
Ithala, together with its partners, will be revisiting 10 areas in which workshops were held last year (2015) to help address the following grey areas that hinder business growth:
The KZN development agency’s suite of offerings includes, among others, business finance, properties, savings and investments, transactional banking, insurance and lending products.
The initiative will culminate in a glittering awards ceremony to be held during Women’s Month in August and will recognise, acknowledge and celebrate women who have advanced in the small business category.
For enquiries, call 031 907 8921 or email smayeza@ithala.co.za.
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The programme which involves a series of informative breakfast workshops across the KZN province over a three-month period, was piloted in 2015 and reached 1041 women in 16 towns.
The majority of women who attended the workshops were 38 years and older, thus pointing to the enterprising nature of this group.
“The 2015 workshops provided key insights into the challenges experienced by women when starting, sustaining and growing their businesses which gives us leverage to be able to change the status quo,” said Thuli Galelekile, Ithala Group Communications and Marketing Divisional Manager.
“The four broad categories of concern were access to markets; access to finance; access to business support; and marketing and sales.
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She said the programme was aimed at delivering on Ithala’s brand promise which is underpinned by three pillars – Hope, Access and Opportunity.
Several workshops will be held from May to August, the details of which will be made available in the local press and aired on community radio stations.
Delegates who attended the first workshop in Pietermaritzburg on 10 May were positive about their experiences.
Pretty Madela, a business owner in the fashion industry, said: “Among some of the challenges I experience are access to markets, competitors and finances. The workshop was very helpful. Representatives from SEDA have answered some of the problems that we encounter.”
Dudu Zulu, who is in the concrete manufacturing business, said: “Access to markets is a particular challenge for my business. The workshop was very informative and I benefitted greatly by coming here.”
Strategic partners on board include the Small Enterprise Development Agency (SEDA); The South African Revenue Service (SARS ) KZN Economic Development Tourism and Environmental Affairs (EDTEA); Small Business Growth Enterprise (SBGE); Durban Business Chamber of Commerce and Industry; Companies and Intellectual Property Commission (CIPC); Business Women’s Association South Africa; KZN Treasury; and District Municipalities’ Local Economic Development offices.
Ithala, together with its partners, will be revisiting 10 areas in which workshops were held last year (2015) to help address the following grey areas that hinder business growth:
- Business Registration
- Database Registration
- SARS Registration
- BBBEE compliance
- Business Mentorship
- Development of Marketing material
- Business Skills Training
- Funding information, etc.
The KZN development agency’s suite of offerings includes, among others, business finance, properties, savings and investments, transactional banking, insurance and lending products.
The initiative will culminate in a glittering awards ceremony to be held during Women’s Month in August and will recognise, acknowledge and celebrate women who have advanced in the small business category.
For enquiries, call 031 907 8921 or email smayeza@ithala.co.za.
It is hoped that stakeholders, such as policy makers, support organisations, and entrepreneurs will benefit from these insights. Survey respondents overwhelmingly stated that access to finance is their main barrier to growth, with 48% highlighting it as the biggest obstacle to expanding their companies. Only 27% of young entrepreneurs received any form of outside investment, with family members (59%) and grants (52%) being the major sources of funding accessible. Despite challenges faced, 84 of entrepreneurs reported employing others, underscoring the employment creation potential of youth businesses. However, a large proportion of respondents (41%), described the level of support available to enable and scale young entrepreneurs in their countries as “poor” and “very poor”. This suggests that significant work remains to make it easier for young business people to succeed.