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Peninsula University of Technology, Stellenbosch University and the University of Cape Town.

Enterprise Development Rise: Barclays Africa Group’s fintech innovation hub in Cape Town is supporting five women entrepreneurs in the information and communications sector by providing a year-long subsidised membership to the Rise co-creation community and workspace. Four start-ups were selected for support: • 88 Business Collective: The accelerator programme headed by Antoinette Prophy is focused on emerging women entrepreneurs. • Trade Circle: Founded by Lauren Davidse, Trade Circle is developing a digital business-to-business (B2B) trading platform to modernise the supply chain of SMMEs. • Minderz: Started by Boitumelo (Tumi) Menyatswe, Minderz is an easy-to-use online platform that connects pet parents/owners with experienced, available and vetted sitters. • Girl Hype: The brainchild of Baratang Miya is an education technology (edtech)​start-up. #YouthStart: Small and medium enterprises are essential to growing the economy across the continent. #YouthStart is a City of Cape Town programme assisted by Absa’s Business Support Development. The top 10 winners were placed in Absa’s entrepreneurship training and the financial literacy programme, and they received computer notebooks. The top three winners received seed capital to kickstart their business ideas. Cape Town Film Festival: Absa recently partnered with Wesgro and the City of Cape Town to promote Cape Town and the Western Cape Province as a film production destination. Absa has expanded on a unique partnership with China to promote South African and African productions by means of mobile movie theatres across townships.

Absa Cape Epic: Absa has been the proud title sponsor of the Absa Cape Epic since 2006, and is thrilled to be part of an event that makes an impact in the lives of the teams who participate and the communities who benefit from the race.

Financial Inclusion Many of the SMEs that corporates may be looking to support through procurement spend may not be able to get funding from a bank because they do not have a financial track record. Getting a loan from a bank normally requires financial records, strong balance sheets, good credit records and collateral – none of which most small businesses have. These entities then end up having to go to the informal markets to borrow at exorbitant rates, which defeats the whole purpose of building sustainable SMEs. Barclays Africa has two initiatives in this field. Firstly, we have established an innovative fund to provide lending to SMEs that are in the supply chains of our clients. This enables us to partner with our corporate clients to develop and transform their supply chains through financing. Furthermore, we recently set aside a R165-million fund to finance qualifying SMEs in our own supply chain.

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WESTERN CAPE BUSINESS 2018

Western Cape Business 2018  

The 2018 edition of Western Cape Business is the 11th issue of this highly successful publication that, since its launch in 2005, has estab...

Western Cape Business 2018  

The 2018 edition of Western Cape Business is the 11th issue of this highly successful publication that, since its launch in 2005, has estab...

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