SMEs awarded for developing communities

Johannesburg - The 702 Small Business Awards celebrate entities that impact and develop the communities they are located in, and recognise companies that offer exceptional services to their customers, while growing their bottomline.

This recognition initiative was championed by the people who gain the most from these businesses. Ordinary South Africans submitted nominations of the commendable enterprises; then a panel of experts had the tough job of choosing a winner from the top 10 most impressive small businesses.

This year, 702 partnered with Lulalend, a lending company providing access to funding for SMEs.

Lulalend’s marketing officer Tom Stuart said they came on board because they believe in the power of small businesses.

“We believe small businesses are critical to economic and social development, and our goal is to empower every SME to succeed. We solve one of the most critical problems small business owners face, which is access to funding. We use technology to assess small business health faster and more accurately than traditional lenders, which means we can provide funding in 24 to 48 hours from the point of application. Small businesses are the most important influencer of economic growth in South Africa, and we are passionate about helping them thrive and prosper,” Stuart said.

Station manager of 702 Mzo Jojwana alluded to that the station has always committed to uplifting small businesses to sustain their growth and impact in the community.

“Over the years, the Small Business Awards have celebrated and

Funding set for young women’s businesses

collaborated with many small businesses. These businesses set the trend, create jobs and ensure that job opportunities help us reduce unemployment. They also show a lot of professionalism and consistency in their services. Most importantly, these awards foster SA’s spirit of innovation and entrepreneurship,” Jojwana said.

First prize winner was Matlhogonolo Ledwaba’s Bread Box Bakery and Studio, walking away with a 702-advertising package valued at R100 000 and R200 000 in cash from Lulalend. The Bread Box Bakery was established and incorporated in July 2017. In April 2018, the company opened a retail store in Midrand. They supply restaurants and retail stores such as Pick ‘n Pay with baked goods. The business soon expanded its offering by acquiring a cooking studio in January 2020.

The runner-up was Paballo Molata’s D’Ntle Beauty Salon, which received a 702-advertising package valued at R50 000 and R50 000 in cash from Lulalend. D’Ntle Beauty is a proudly South African brand. They are passionate about beauty and providing quality five-star service at an affordable price.

The other runner-up was Nkosana Ngwenya’s NNI Services, which got a 702-advertising package valued at R50 000 and R50 000 in cash from Lulalend. NNI Services is a civil engineering company, providing civil works that focus on paving, kerbs, storm water, water line, sewage line and earthworks.

The company was founded in 2016 and commenced trading in 2019. They supply and fit paving, install stormwater drainages, sewage lines and waterlines.

Some of the companies they have partnered with include Ndwala Construction, Road-Tech Engineering, Infracor Consulting, Sacola Construction, Pentacon Civils and Labucon Resources. They are ready to work anywhere in South Africa.

Johannesburg - The Mastercard Foundation Africa Growth Fund (MFAGF) has launched, working through African investment vehicles to support early-stage SMEs.

In a statement the foundation said the goal of the fund is to enable dignified and fulfilling work for young people, particularly young women. “The fund-offunds is bold and catalytic, helping to crowd in capital for African entrepreneurs by strengthening and de-risking African investment vehicles that are committed to advancing gender equity in entrepreneurship.”

In addition to providing capital for investment vehicles, the MFAGF will offer a business development facility for their portfolio companies. The initiative will use gender-lens investing principles to help advance its Young Africa Works strategy, which aims to enable 30 million young people in Africa, particularly young women, to access dignified and fulfilling work by 2030. So far, the Fund-of-Funds has recruited two investment vehicles supporting entrepreneurial growth.

Investment vehicles that are African-owned, led and based are typically considered high-risk. At the same time, African SMEs struggle to access the financing they need to scale, inhibiting their potential.

Mennonite Economic Development Associates (MEDA) CEO Dr Dorothy Nyambi said: “We need to do everything it takes now to build a continent with shared prosperity and sustainable, inclusive growth. This fund will strengthen and empower a new crop of African investment vehicles to drive decent job creation for women and youth via investments in small and medium-sized enterprises.”

Dr Nyambi added that success lies in increasing youth employment and moving to action.

“Over 75% of ventures funded will be led by women creating jobs. Ultimately, impact will be in building the investment ecosystem for investment vehicles and in SMEs that will thrive and create employment,” Dr Nyambi said.

How to avoid festive burglaries

Johannesburg - As you prepare to go on holiday, criminals prepare to get to work, according to ATG Digital’s Ariel Flax.

He shares findings from a Distribution Centre Risk Report, produced by a prominent logistics company.

The report reviews crime risk trends related to distribution centres between August 2021 and August 2022.

“It brings to light several interesting trends regarding business burglaries, that though related to distributed centres, parallels what we see with other business clients across the board,” Flax explains.

He advises enterprises of all sizes to consider the report’s key findings so they can apply appropriate security measures up to January.

The report found that most of security incidents during the reporting period were burglaries, peaking between November and January. Most incidents occur on Sundays, and on any given evening, the hours 23:00 to 00:00 are the highest risk; and that an overwhelming majority of the incidents occurred in Gauteng.

After burglaries, a large portion of crime incidents are categorised as robberies. Gauteng again reported the highest number of armed robberies, with the Northwest and Western Cape provinces in second and third.

Robberies occur more frequently in the early mornings between 00:00 and 09:00.

The report uncovers a modus operandi used by perpetrators, who were likely responsible for incidents between October 2021 and May 2022. The perpetrators gain entry by force, threatening