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Growth Challenge Winners Meet JSE CEO For Insights & Motivation

Mahlatse Tolamo


On the 12th of August, our Growth Challenge winners, MaxiCash, HonestCare, Nubian Smart, Exploring Intellect and Ngcobo Molapo Logistics, enjoyed an invaluable opportunity to meet the Johannesburg Stock Exchange (JSE) CEO, Dr Leila Fourie, as a reward for their hard work.

We launched the Growth challenge on the 14th of November 2019 in partnership with the JSE. The aim of the initiative is to cultivate a properly thought-out long-term strategy, develop resiliency, mirror market challenges and acknowledge and celebrate the positive financial performance of startups.

Spring. It’s a season of fresh growth, new beginnings and rejuvenation. The scent of flowers, seedlings blooming, animals exiting their confined hibernations and birds cheerily hark in this new warm season of rebirth.

I believe that spring can create a natural source of motivation and encouragement, in tandem with our government, to make our economy blossom again. And here is how

– Corporate: Big businesses must be encouraged to open and get their staff back onsite. Because in this regard, it’s not only about restoring corporate productivity, it’s also about the impact on small periphery businesses. For example, I was saddened when I went to buy street food from the Mama in Bryanston and she told me that pre-pandemic she used to sell 60-80 plates a day, but now, she rarely sells more than ten, because offices are standing empty. There are thousands of these small periphery businesses everywhere that rely on corporates and they need to get back to productivity, not to mention the larger periphery businesses, such as internal office cleaners, external window cleaners, etc. The list is endless and the economic domino effect is crippling.


– Travel and Tourism: As the Northern hemisphere approaches autumn (aka “fall” in the USA), many tourists will seek regions with warm weather to visit. We have to open up our borders safely with strict health protocols with, for example, a certified negative virus test a week before their arrival, still subject to rigorous airport screenings. With the many travel agencies, hotels and restaurants closing down, this will be a big opportunity to get these businesses back up and running. And once again, the peripherals, such as waiters, cooks, cleaning staff, maintenance and tour guides, etc. will be earning a living again. These all help reinstall consumer spending power, which helps pump money back into the economy, and are relevant to nearly every industry sector.


– Health and Fitness: It was encouraging to read that South Africa did not have a flu season this year. I guess this was due to home confinement and possibly that many took precaution by self-medicating, having hot water, lemon and honey, etc. I probably distributed over 300 lemons to my work colleagues during this period. So staying healthy and exercising is crucial to lessen the risk, as well as to keep wearing masks, social distancing and regular sanitisation.


– Startups: Our startup ecosystem has been dealt a crushing blow. From those that have surrendered their slim hope of continuance and those that have retrenched staff significantly, to the venture capital industry, which is now investing extremely conservatively, and the corporates that are over-cautious to talk partnerships or collaboration, now, more than ever, is the time to let hope spring eternal by building our economy on collaborative trust between small and big business.


– Conferences, Events (including weddings) and Entertainment: These are big money spinners, also employing many peripherals, so they have to get back into the economy, super-safely of course. Conferences and events attract millions of visitors annually with huge spending power. Entertainment, such as performers, musical artists and the creative industry at large, which includes film and TV productions, hire thousands of freelancers, many of which have been side-lined and unpaid since March.

In closing, we must acknowledge our Health Practitioners and Frontline workers, who many will agree have done a great job, bearing in mind there was no clear-cut remedy to fight this virus quickly.

Now I think we must spring into action and open the economy fully and safely – and remember it will take teamwork and diligent adherence to existing health protocols.


Kizito Okechukwu is the co-Chair of the Global Entrepreneurship Network (GEN) Africa; and Executive Head at 22 on Sloane. 


In Other News

April 10

30 Years on, Rwanda continues to inspire

2023 was my third time in Rwanda. It’s a country that many will remember for the genocide that befell the country 30 years ago, where close to a million Rwandans were killed in a civil war, sparked by tensions between the Hutus and Tutsis tribe.

April 3

South Africa to create a million new SMMEs by 2030

The National Development Plan (NDP) places the responsibility of creating 90% of all jobs in South Africa on SMMEs. Currently in South Africa, it is estimated that SMMEs create about 60% of all jobs, which means that we are still a bit behind most regions in the world. In most nations, SMMEs account for the most jobs in their economy. According to the EuroFund, SMMEs constitute more than 99% of European companies and account for about two-thirds of private sector employment and job growth. To achieve the NDP target, the white paper published by 22 On Sloane in January 2024, estimates that South Africa will need to create 3.2 million new SMMEs in the next seven years in order to achieve the NDP target. Which means that with an average of 3.7 employees per SMME, the country could likely create around 11.9 million new jobs by 2030.

March 14

Global Entrepreneurship Congress Africa welcomes 2000 delegates to Cape Town

The long-awaited Global Entrepreneurship Congress Africa kicked off yesterday in the Mother City with thousands of delegates comprising of entrepreneurs, investors, policymakers and entrepreneur support organisations. About a dozen ministers from across the continent also jetted in with their delegation of entrepreneurs and ecosystem stakeholders to network and connect with top minds and players in Africa’s ecosystem.