Awethu boosts S.Africa's entrepreneurs - CNBC Africa

Awethu boosts S.Africa's entrepreneurs

Southern Africa

by Thabile Manala 0

Leading SME investment company has grown from a R60 000 start-up into an institution with R160 million to invest in its vision. PHOTO: Getty

Leading SME investment company has grown from a R60 000 start-up into an institution with R160 million to invest in its vision of curbing unemployment.

Awethu is backed by institutions and people such as the Archbishop Desmond Tutu, the South African Government and Discovery Holdings on its quest to assist hardworking entrepreneurs.

Awethu invests in entrepreneurs ranging from R5 000 start-ups to those looking to acquire and run R500 million worth companies.

“What matters to Awethu is not where an entrepreneur comes from, or the size of investment they need, but that they have the talent and hunger to improve their lives through entrepreneurship,” the investment company said in a statement.

At present, the largest number of the opportunities are in the company's microbusiness incubator. In this incubator, successful applicants receive the equivalent of R45 000 worth of training and mentorship in exchange for a commitment fee of R1 500.

Yusuf Randera-Rees, CEO and co-founder of Awethu said, “Our micro-business incubator provides a platform for individuals who want to be successful entrepreneurs, but realise the importance of upskilling themselves before venturing out into the unfamiliar – and often costly – territory of entrepreneurship.”

Randera-Rees added that the project boasts many success stories.

“Young South Africans who have changed their lives and those of their communities through their talent, hard work, and leadership.”

He appealed to young entrepreneurs for their micro-incubation programme. Applicants need not have matric or a business plan.

 “Our call is going out to anyone who is hungry to improve their life by starting or growing their own business. Through our ground-breaking incubation model, we will partner with you to fulfil your ambition and guide you toward your potential.”

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