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The detail around the Fund is still not clear to many, but one thing is clear and certain, South Africa needs a Transformation Fund that will support the establishment of micro, small and medium enterprises. The lack of access to finance experienced by many black South Africans remains a concern. In 2018, 22 On Sloane conducted a study with the World Bank, in which we highlighted the Unseen Sector Report (2018), that estimated an MSME credit gap of US$6bn (R120bn) in the formal sector and US$24bn (R480bn) in the informal sector. Many recent reports have also estimated the MSME credit gap at between R86bn to R346bn. Working with MSMEs across 43 countries in Africa, we see the challenge first hand...
READ MOREI had the opportunity to present on Startups, Small Businesses and Job Creation in Africa. I highlighted the need for us to create and grow a pipeline of investable startups in Africa. The scarcity of investable deals, combined with increases in VC allocation, has led to inflated valuations, which has led to portfolio underperformance for investors as startups in Africa fail to live up to their valuations. The result and danger of this could be capital flight or the hoarding of dry powder as the investment community terms it.
READ MOREThe Deputy President (DP) of South Africa, His Excellency Paul Mashatile, is in London this week with high level government officials, which included eight South African Ministers and Deputy Ministers, Senior Executives of big corporates and 40 SMMEs and startups. Under the leadership of Minister Stella Ndabeni-Abrahams from the Department of Small Business Development supported by Edna Montse from African Bank and Steven Zwane from Absa, 22 On Sloane entrepreneurship campus partnered with the Department of Small Business Development, Small Enterprise Development Agency, African Bank, Absa, Telkom and W&R Seta to give the 40 businesses an opportunity to be part of the investor roadshow in London.
READ MOREIn both the arenas of Olympic sports and the business world, the quest for perfection is a common thread. Every great entrepreneur, much like an Olympic athlete, is a fierce competitor. The entrepreneur comes up with an idea, tests the idea, refines it and then commercialises it, aiming to be the best in what they do. The core aim of every entrepreneur is to service its customers by providing a perfect product or service, then generate revenue from doing this and grow the business to greater heights. Entrepreneurs are perfectionists, waking up every day and thinking how they can improve, outsmart their competitors and have more clients desire their product, more than any other.
READ MOREThe GEC+Africa 2024 report is an essential resource for understanding the current landscape and future potential of entrepreneurship in Africa. It highlights the challenges and opportunities within the SMME sector, offering a roadmap for stakeholders to drive sustainable growth and innovation. The report’s insights are crucial for policymakers, entrepreneurs, investors, and other key players committed to fostering a thriving entrepreneurial ecosystem in Africa.
READ MOREIt was on the 28 March 1995, when the late former Statesman Nelson Mandela made his opening address at the Small Business Conference and decried the lack of coordination and the fragmentation in the small business sector. His exact words were, “there are moments poised between the dissolution of the old order and the establishment of the new, at which change coursing through our society becomes sharply visible. Gathered at this impressive small business conference are representatives of a sector which until now, has been fragmented and therefore unable to tap into our society’s potential for enterprise”.
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22 On Sloane is the largest startup campus in Africa. The campus offers disruptive startups and innovative SMEs a complete turnkey solution to scale, from the initial idea all the way to commercialisation, funding opportunities and access to markets. Its aim is to nurture the entrepreneurial mindset, ensure their sustainability, and explore development of new industries and contribute towards job creation in Africa.
Email: info@22onsloane.co
Tel : 011 463 7602 (Joburg Hub)
Tel : 021 020 1303 (Cape Town Hub)
Cape Town Hub:
39 Somerset Road, Green Point, 8005, Cape Town, South Africa
Joburg Hub:
Cnr Winnie Mandela Drive and Sloane Street, Bryanston, 2191, Johannesburg, South Africa