Townships are incubators of entrepreneurship and innovation, and the support and training that will be offered will help these entrepreneurs to expand and build more sustainable businesses.
South Africa’s township economy is estimated to contribute at least R100 billion to the country’s gross domestic product. As such, the Township Entrepreneurship Alliance (TEA) – an organisation established in 2015, with a focus in empowering township-based companies – has partnered with Nedbank to help catalyse the development of entrepreneurship in South African townships.
This is part of the bank’s commitment to supporting the continued growth of this vital South African economic sector.
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The workshops are facilitated by experienced and successful township business owners who understand the challenges associated with establishing and growing a township business, and the learning is tailored to the level of experience and understanding of each participant. The interactive format of the workshops allows participants to acquire and practice essential business skills, while attendees also have the opportunity to benefit from ongoing business mentorship, and affords them access to financial tools, networking and marketing opportunities.
NOW READ: Together, Beke le Beke initiative, which leverages the bank’s various business development programmes and banking solutions to support the growth of micro- and small businesses in the informal sector.
First launched in response to the challenges facing SMMEs due to the Covid-19 pandemic and the 2021 KZN unrest, Together, Beke le Beke had such a positive impact on many small businesses and entrepreneurial ventures across the country that Nedbank decided to continue and expand the programme.
Nedbank rolls out Mega Branch network
The first Mega Branch was launched in Khayelitsha, Cape Town, in August 2021, and based on the overwhelmingly positive response Nedbank has now extended its Mega Branch network to communities in Evaton, Chris Hani crossing, Jabulani Mall, and Wynberg. These new branches offer a reimagined, full-service banking experience that combines digital platforms and in-person assistance to enable clients to get their banking done quickly and efficiently. Where Nedbank clients, including business owners can now book to use Meeting Zones inside the branch at no charge to host client meetings or small strategy workshops.