Focus on funding female entrepreneurs

Business Correspondent

The Boston Consulting Group recently highlighted that if more women participated equally as entrepreneurs, the global economy would grow somewhere between 3% and 6%.

Research confirms that focus on gender in investment decisions is likely to make companies more competitive and improve human capital.

ESG manager at Norsad Capital Keoleboge Malela says many regions of the world have begun to understand that women-focused investment is crucial.

“This shift in focus is beginning to impact female entrepreneurs in positive ways. Last year female-led startups in Africa attracted $288 million in funding, considerably more than the $52 million achieved in 2019.

Male-led startups still attract a great deal more funding,” she says.

Lack of funding impacts women in ways that include ability to secure good employment and the business world’s ineffectiveness in innovat- ing to produce quality products for the female market.

Norsad Capital has developed its approach to making funds available to women-owned businesses.

Malela says they have adopted a gender lens when it comes to assessing potential investment.

“As a result of this approach, between 2019 and 2021 we saw an increase of 61% in women’s jobs in the companies we chose to invest in,” she says.

Malela believes that investment firms and funders should add gender issues to their diligence programmes. “One does not need to focus exclusively on female ownership. A look at the number of women on the executive team of the business, as well as the size of the female staff complement, and whether the products or services it provides have a positive impact on women, provides a good indication as to whether the firm shows an understanding of the issues facing women,” she says.

Norsad Capital has implemented policies geared to further the interests of women on its staff.

The latest Norsad Capital Impact Report indicates that over half the employees are women; a significant number of professional staff are female and there is solid representation of women at board level.

Manufacturing platform to unlock opportunities

Johannesburg - A new manufacturing platform is set to provide opportunities and access to accelerate the industrialisation of the African continent.

Taking place in May 2023 at the Johannesburg Expo Centre in Nasrec, Future Manufacturing Africa Trade Fair and Summit will gather local and international companies to showcase new technologies, machinery, and equipment to enable African industries to invest in and enable them to increase manufacturing output.

RX Africa managing director Carol Weaving says experts agree that Africa needs rapid industrialisation to become more competitive globally.

“We have seen how the disrupted supply chains during the Covid-19 pandemic forced and inspired many African companies to source locally in order to meet the growing demand for goods and services. This has provided a momentum to take local manufacturing to the next level,” she adds.

Weaving adds that the manufacturing growth in Africa is outpacing the global growth rate.

“The business-to-business spend in manufacturing in Africa is projected to reach $666, 3 billion by 2030; that is over $200 billion more than in 2015. This will be a result of established economies and also the emerging economies entering the manufacturing industry,” she says.

She adds that the event will gather hundreds of experts in manufacturing equipment, machinery, systems and services, as well as decision makers from at least 25 countries from across the continent.

Tech group donates fridges to children’s home

Johannesburg - Technology company LG Electronics recently donated seven fridges to the Johannesburg Children’s Home in Observatory.

LG South Africa president Jinkook Kang said their focus is to provide aid in social welfare, education and cultural activities.

“This is by means of sponsorship, financial aid and volunteer work. At the end of the day, LG products are products that care, and by donating these fridges, we hope to create a better life for all who use them. Our brand pillar LG Cares initiative allows us to give back, make a difference and prove that we are a brand beyond innovation and technology, we’ve got heart,” Kang said.

The Johannesburg Children’s Home has been operating for 130 years, caring for children who live in the establishment. The fridges will be set up in the furnished cottages, which were installed in 1985.

The children’s home head of operations Fiona Duke said: “We are grateful for this donation and the opportunities this creates for us in the long run. It really is a brand that cares. We and the children thank the company from the bottom of our hearts.”

Thanks to donations like these, as well as those from other sponsors, the children’s home is embarking on various income-generating projects. They plan to hire out the home’s hall for functions and provide laundry services from the home’s on-site laundry.

They also hope to sell sauces and food platters as well as art and craft goods the children create.

“In particular, there is great interest in agro-processing, textiles and apparel, metallic minerals, non-metallic minerals, chemicals, environmental, energy and water sustainability solutions and financial and investment services to invest and grow the industries to add value to local resources before selling or exporting. Africa is regarded as the next frontier when it comes to investment and growth through industrialisation and creation of employment. The continent will also vastly benefit from the experience of the veritable explosion of intelligent and smart systems we have seen in leading manufacturing countries being used in mass production, such as AI, machine learning and optimisation,” she says.

Future Manufacturing Africa’s manufacturing machinery, equipment and technology hub will provide specialists in manufacturing technology and services to showcase their offerings, including manufacturing and warehousing technology and services, industrial machinery, equipment, components and support systems, laboratory equipment, technology and analytical instruments, and sustainable technology for the manufacturing industry.

The event will have planned B2B, B2G and G2G business matchmaking meetings and networking opportunities between exhibitors and decision makers, including an invitation-only business connect programme. There are live and online technical workshops and demonstrations, conference sessions, as well as a finance and investment roundtable that will provide financial solutions in planning, investment and acquisition.

In addition, visitors and delegates will learn how to improve efficiencies and produce higher quality products, while experts will demonstrate alternative energy and water solutions to the manufacturing industry supporting environmental needs. Success stories will be shared about the creation of a circular economy through circular manufacturing to increase profits in a more sustainable way of doing business.

In the spirit of the African Continental Free Trade Area, cross-border trade of quality raw materials within the African continent will be promoted to expand the economic integration of Africa.

The event will be the 12th edition that has been running for 25 years.

RX Africa works with government, stakeholders and industry experts to connect trade, consumers, investors and business and bring together the best on the African continent.

Theatre hosts tribute to SAs jazz legends

Bongani Maseko

Musician Hendrick Monyeki will pay tribute to jazz legends at Joburg Theatre on 2 September.

Monyeki will feature legendary jazz artist Stompie Manana and a band; paying tribute to legends such as Caiphus Semenya, African Jazz Pioneers, Dr Johnny Mekoa, Dorothy Masuka, Miriam Makeba, Abigail Kubheka and Sibongile Khumalo.