When we got IDF capital off the ground, we placed our primary focus on women entrepreneurs because we noticed that though efforts to facilitate the mainstreaming of black businesses were being made, black women were still being left out. This is despite a market study that had been done by the department of trade and industry that showed that women made up the majority of self-employed people of small micro and medium-sized enterprises.
We, therefore, made it our mission to focus on women-owned businesses.
"We want to do with business banking what we’ve done with retail banking. We believe banking can be a little complex and non-transparent for a lot of people.
Our philosophy of simplicity and transparency will, therefore, be fundamental to our approach. We also need to move business from paper to a much more digitised system. This is something we are looking to achieve within the next eighteen months. Moving SMEs from paper-based systems to digitised systems will make their transactions easier and more transparent."
"We've been operating in Africa for a long time, so we've seen the good and the bad, but we also look at what's happening elsewhere in the world and the investment opportunities making good returns.
That's not easy, so we have to look at where those opportunities are. I think there is a political will in Africa to build their own countries, and they appear to change from time to time as new people come into power.
We have a long term view in regards to opportunity in Africa. It takes hard work and interaction, and what you're doing now at AfricaLive is part of that. As we operate in those jurisdictions, we play a role within those political systems, talking to different people on how we can make a difference."
CEO of South Africa based Sakhumnotho Group Holdings, Sipho Mseleku, has challenged African governments to put entrepreneurial training at the heart of education and is calling for greater collaboration amongst African business leaders to tackle Africa’s primary economic challenges.
“Africa has a failing education system,” says Mr Mseleku.
“Africa’s education systems focus more on academic training than entrepreneurial training and that is proving quite problematic.
“We at Sakhumnotho believe that entrepreneurship is the missing piece towards the growth of African economies.”