Finance Indaba 2017: Shanduka Black Umbrellas enables entrepreneurial dreams
"As one of the leading ESD organisations in SA we can support finance professionals with entrepreneurial dreams and capabilities in their journey to develop sustainable businesses. The support we provide encompasses training, physical infrastructure in our incubators, and mentorship," says Nyasha Dzumbunu, CFO of Shanduka Black Umbrellas, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.
- Finance professionals and accountants register for the Finance Indaba for free with code FB2017!
In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.
Do you want to hear how Shanduka Black Umbrellas is facilitating economic transformation? Do you want to be informed about the latest and greatest in finance? Then don't miss the Finance Indaba Africa 2017.
The Finance Indaba is the biggest annual event on the continent for financial managers and specialists who are seeking partnerships to drive progress. Thousands of delegates will gain valuable insights into realising financial performance and growth, becoming more efficient and accessing funding, among a host of other opportunities from leading players in financial services.
Why will you be present at the Finance Indaba?
"We will be inviting our incubated business and alumni, who will benefit greatly from networking with the finance professionals (including our very own SBU Finance team) and the other leaders in industry expected at the Indaba. We will also invite our stakeholder partners and leverage this platform for stakeholder engagement with our existing partners and we are excited at the potential of meeting new partners."
What will you be talking about or showcasing?
"We will be showcasing our enterprise and supplier development programme and our key success metrics, which we are so very proud of. This will enable potential investors to know more about Shanduka Black Umbrellas and how we would benefit from their enterprise and supplier development budgets to enable us to continue to support and build sustainable entrepreneurs. We would also share information on how finance professionals and other individuals with entrepreneurial aspirations can go about pursuing this dream in partnership with Shanduka Black Umbrellas."
What challenges can you help finance professionals/firms with in 2017?
"As one of the leading ESD organisations in SA we can support finance professionals with entrepreneurial dreams and capabilities in their journey to develop sustainable businesses. The support we provide encompasses training, physical infrastructure in our incubators, and mentorship. We also create a platform to access funding to businesses that are funding ready as well as leverage our stakeholder network for access to markets for our businesses.
"We also provide entrepreneurial training through Nextgen Training Academy, which is the entrepreneurship training academy we have recently launched. We cater for different types of entrepreneurs through our academy, from entry level entrepreneurs to franchises and masterclasses. Our programs are tailored to specific requirements.
"For firms and corporates, we work together to find solutions to their enterprise and supplier development goals and objectives, including providing access to our network of incubated businesses as well as those on Shanduka Black pages (our online procurement platform) for procurement opportunities."
What progress have you seen in the transformation of the economy since your inception?
The 100% black-owned businesses we have incubated since inception have generated R1.9 billion worth of revenue. These same businesses have created over 10 000 jobs, generated taxable income of over R105 million which has gone back into the fiscus and paid salaries of over R490 million, which go back into our communities to, among other things, feed, clothe, educate and house families. All of this has contributed to boosting and transforming the economy.
What are the biggest challenges facing black entrepreneurs and SMMEs in SA today?
"They struggle to succeed past the two-year mark with a high failure rate during this period, hence our program,e providing support for three years. Black entrepreneurs and SMMEs in SA, in general, also struggle with a lack of business skills, lack of access to infrastructure, rigorous statutory requirements when setting up a business, lack of access to funding due to struggling to meet the criteria funders require and a lack of access to meaningful procurement opportunities."