Ramaphosa talks entrepreneurship at #SAIC2019

President Cyril Ramaphosa has thanked investors for carrying through on investment commitments made at his first summit last year. He addressed the opening of the second Investment Conference. #DStv403

JOHANNESBURG - President Cyril Ramaphosa believes South Africa needs more small business warriors, according to his speech on the final day of the second South African Investment Conference.

Ramaphosa said a Township Entrepreneurial Fund is in its final stages.

READ: Government working hard to change SA's fortunes: Ramaphosa

But Soweto entrepreneurs are wondering if they'll see a cent of that money, or the R363-billion investors have pledged.

Black Chef founder Itumeleng Molose is betting on business from investment conference delegates and he is hoping for sustained support after Ramaphosa brought the summit to Soweto.

READ: Tshwane to be turned into automotive capital of SA

Molose said, "there's a lot of chefs here with crazy ideas, great ideas that the world is waiting to see. It's just that they're uninspired because of funding. It's difficult for them to go wherever because the family they come from is not the best background families financially"

Ramaphosa said the soon-to-be-launched Township Entrepreneurial Fund will bring brighter days for burgeoning small businesses.

Ramaphosa said, "I think we are in a good space now and this is where I've always wanted us to be. To have small business rising, grasping the opportunities and we are laying out a plethora of opportunities for them.

"And in a number of ways, they're going to be spoilt for choice because [the] government is firmly committed to supporting them"

The Soweto leg of this year's conference has shown investors how the government plans to unlock business opportunities for a previously-neglected group of entrepreneurs.

Source
eNCA