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Media release CYRIL RAMAPHOSA OFFICIALLY OPENS SHANDUKA BLACK UMBRELLAS DURBAN INCUBATOR Durban 11 July 2012: Executive chairman of the Shanduka Group Cyril Ramaphosa today officially opened the Durban incubator of Shanduka Black Umbrellas, a nonprofit company involved in the support of emerging black businesses through enterprise development.

The creation of Shanduka Black Umbrellas (SBU) in KwaZulu Natal at the end of last year is already beginning to be felt on the ground. The launch of the Durban incubator saw more than 400 entrepreneurs apply to be part of the programme – so far 24 have been taken on board, all of whom are already creating employment. SBU Durban has already signed an important Memorandum of Understanding with the eThekwini Municipality, a partnership which seeks to actively grow sustainable businesses that are able to provide quality products and services to both the public and private sector. SBU - a non-profit SMME (Small Medium and Micro Enterprise) incubation service provider which began operating in 2005 – affords collaboration opportunities between 100 percent black owned businesses, government, the private sector and civil society. It provides its SMMEs with a solid foundation through subsidised infrastructural support, on-going mentoring and training as well as access to markets and has incubators in Cape Town, Johannesburg and Pretoria. Ramaphosa sees Shanduka Black Umbrellas as a catalyst in the development of business skills and entrepreneurship, a sector he believes is one of the most critical ingredients in ensuring the economic empowerment of historically disadvantaged people in South Africa. “We have shown that our model is effective in getting small businesses to flourish and to create employment. Statistics show that of those who do manage to start their own business; fewer than 20 percent survive past the first two years. We help combat this through the SBU programme. In my view, real black economic empowerment is done at the small business level, therefore to advance the economy and create jobs we must support SMMEs.” he says. Black Umbrellas was a project first conceived by social entrepreneurs Charles Maisel and Mark Frankel and proved to be highly effective in supporting SMMEs in Cape Town. The model was adopted by the Shanduka Foundation in 2009. Shanduka has spent more than R12 million on the initiative. When setting up Shanduka Group, Ramaphosa set aside five percent of its shareholding to two trusts – Fundani Education Trust and Mabindu Business Development Trust. Shanduka Black Umbrellas is supported through The Mabindu Trust. Shanduka Black Umbrellas’ overall long term goal is to:  open 10 Shanduka Black Umbrellas incubators within South Africa  eventually support an average of 50 SMMEs per incubator with each SMME remaining with Shanduka Black Umbrellas for a maximum of three years  ensure that at least 50 percent of the SMMEs joining Shanduka Black Umbrellas become sustainable within the three year period  support SMMEs that generate R3.6 billion in turnover and create 7 300 jobs over a 10 year period

NOTES FOR EDITORS SHANDUKA BLACK UMBRELLAS For a highly subsidised monthly fee, the Shanduka Black Umbrellas programme provides member SMMEs with a working environment and the support services to enable them to thrive. Benefits include office space, computers, internet and telephones, vehicles with drivers, a compulsory reliable bookkeeping service and a structured mentorship programme with a business consultant/mentor. Once SMMEs have signed their contract they are required to undergo a series of training interventions to assist them in identifying what they need to do to run their business more efficiently. This also helps them prepare a comprehensive business plan. The programme also enables Shanduka Black Umbrellas to compile profiles of each business – their skills, education, work experience and personality type of the owner. This is a powerful tool in getting to understand SMMEs, their strengths and their weaknesses and therefore helps to continually enhance the model. These emerging enterprises will benefit for a maximum of three years before graduating as stand-alone businesses; making space for new companies. The Durban incubator is located on the second floor of the Smart Xchange Building, 5 Walnut Road, Durban. Contact 031 327 3200/1. SHANDUKA BLACKPAGES Shanduka Black Umbrellas is the publisher of blackpages which showcases 100 percent black owned businesses from around South Africa. All businesses featured in blackpages have provided a valid B-BBEE certificate as well as proof of 100 percent black ownership. The directory listings are available in print and online editions. The print edition is published annually with a print run of more than 40 000. One of the key intentions of the DTI’s B-BBEE Codes of Good Practice is to increase the level of procurement from black owned companies to encourage the growth, development and sustainability of SMMEs. Under the Preferential Procurement pillar, corporates can receive 20 out of a total of 100 points for procuring from qualifying black owned businesses. For more details contact 010 590 5555 / 011 590 5576 or visit ABOUT THE ETHEKWINI/SBU MEMORANDUM OF UNDERSTANDING The envisaged areas of collaboration between Shanduka Black Umbrellas and the eThekwini Municipality is for the Municipality to refer suitable applicants to SBU for incubation; make its training programmes available to SBU incubatees as well as facilitate meetings between SBU and eThekweni Municipality’s corporate and financial institution partners. SBU in turn will share its small business development lessons with eThekwini Municipality and by so doing; collaborate with the Municipality to enable the sustainable development of 100 percent black owned SMMEs in the area. Ends

Media queries Nine Squared Communications and Events (011) 612 3083 Suzanne Weil Chief Executive Officer 082 900 3528

Shanduka Black Umbrella Launch  

Durban incubator of Shanduka Black Umbrellas, a non-profit company involved in the support of emerging black businesses through enterprise d...

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