An empire that was established on the year 1964 by the National African Federation Chamber of Commerce (NAFCOC) alongside the leadership of Sam Motseunyane and Richard Maponya among other black entrepreneurs has taken a new path with an oath of keeping up the legacy of the renowned, African Bank.
“The heritage of African bank is that it is for the people, by the people, serving the people,” said Edna Montse who is a group executive of transformation and sustainability from African bank.
Chanting the mantra of black economic growth, on the 1st of September 2022 African bank hosted an entrepreneurial summit at Thembisa. In conjunction with their business associates namely,22 On Sloan, Brighton Capital, and Gauteng Enterprise Propeller (GEP) they delivered educational speeches which were orientated at the field of entrepreneurship and a handful of useful entrepreneurial tips and funding opportunities.
The entrepreneurial summit started with the speech of Zinhle Ncube from 22On Sloan. He shared common knowledge about entrepreneurship and lifelong tips useful to an entrepreneur.
“Innovation, humility, and perseverance are the attributes of a good entrepreneur,” he said.
Following the tune of business enlightenment, Tshepo Headbush from Brighton Capital gave a detailed presentation of a business funding implementation known as the QHUBEKA Fund. This particular funding has minimal business requirements and surprisingly no interest fees.
The two days summit included panel discussions and an open slot for business pitches to African bank and their associates in terms of funding and capital support.
There was also a business stall tent that was set up for local entrepreneurs to showcase their products and openly network with the people who were present at the workshop.
“Being an entrepreneur means that all the responsibilities of the business lie on your shoulders, be it the success or failure of your business however it also has its benefits such as being in charge of your profits, time, and innovation” expressed Makhonjwa Mnisi who is the owner of STATEMENTS, a business specializing in scented products.
“The turn up of the customers was positive, the quality of my products was much appreciated from the design of the brand, variety of quality fabrics and style of my clothes. I received positive feedback and they allowed me to make business associates right here at the stall,” proclaimed Tlou Masoga who is the owner of TLOU clothing brand.
The ambience of the entrepreneurial summit was no less than a festival festooned by entertainment provided by local artists.
This event marked the new chapter of African banks and giving back to society and contributing to black economical growth in townships such as Thembisa.
Edna Montse said that in reclaiming their heritage as an African bank, through their Accelerate 25 strategy they needed to ensure that they connected with entrepreneurs, which led to them hosting this summit in Thembisa to say to entrepreneurs let them start a journey through their African bank enterprise and supply development program and funding opportunities through their business associates which would enable local entrepreneurs to grow economically.
By Rhulani Fundzama
