Latest news with #EnterpriseandSupplierDevelopment
eNCA
25-06-2025
- Business
- eNCA
Youth Month - Empowering the future, today
June is Youth Month, and South Africa shines a spotlight on its youth – acknowledging their struggles, celebrating their achievements, and amplifying their voices. At AVBOB, we proudly stand with the country in honouring young people not just this month but every day – recognising their vital role in shaping our organisation and society at large. As a mutual society, AVBOB exists not to serve shareholders but to serve its members: our policyholders and the communities in which they live. This allows AVBOB to reinvest in people and create meaningful opportunities for them. Backed with eight consecutive Top Employer awards, AVBOB has built a reputation as a workplace where talent, including young people, can thrive. Creating opportunities for the youth AVBOB understands the significant challenges that South African youth face, particularly when it comes to unemployment. This informs the learnerships and internships that AVBOB designs to give young people hands-on experience and a foot in the door. We encourage the youth to regularly visit our website ( and follow our social media platforms to stay informed about these opportunities and about permanent job openings available nationwide. Empowering young entrepreneurs Beyond employment, AVBOB is also passionate about entrepreneurship. Through our Enterprise and Supplier Development (ESD) Programme, we support small and growing businesses, helping them access the tools they need to succeed, such as funding, market access and skills development. This initiative doesn't just help individual entrepreneurs; it strengthens the broader economy. Launched in 2021, the ESD Programme focuses on collaboration and long-term impact. Through partnerships with inspiring entrepreneurs like Neo Monareng (founder of Gadifele Communications) and Sibusiso Sibanyoni (founder of AVBOB contributes to offering young business owners benefit not only from access to markets and infrastructure but also from vital business expertise and continuous professional guidance. Introducing Groundbreakers: A youth employment solution In 2025, AVBOB introduced an exciting new initiative under the ESD Programme, specifically designed to address youth unemployment. The Groundbreakers initiative creates short-term job opportunities for young people aged 18-35 by placing them at AVBOB Funeral Service branches, starting with three in Mahikeng, Temba and Tzaneen, respectively. Their role involves assisting with essential grave services such as grave opening and closing, grave site cleaning, and other related grave site services in the surrounding communities. Importantly, they will be remunerated for their contributions, while gaining work experience, community respect and economic participation. The Groundbreakers initiative demonstrates how business-led solutions can drive meaningful change in line with United Nations Sustainable Development Goal (SDG) 8: Decent work and economic growth. AVBOB is committed to advancing job creation, empowering local talent, and fostering inclusive economic participation that aligns with the SDGs, reflecting AVBOB 's values of building resilient communities and driving long-term socio-economic impact. At AVBOB, Youth Month is more than just a commemoration – it's a call to action. Whether it's through employment, enterprise support, or empowerment initiatives like Groundbreakers, AVBOB remains committed to investing in the future of South Africa: its youth. ABOUT AVBOB MUTUAL SOCIETY
The Citizen
16-06-2025
- Business
- The Citizen
Glencore Coal empowers local entrepreneurs through the ESD Programme
Glencore Coal recently celebrated the graduation of 23 local business owners from its Enterprise and Supplier Development (ESD) Training Academy in eMalahleni. The programme, now in its fourth year, aims to build stronger, self-sustaining communities around Glencore's operations by equipping small, medium, and micro enterprises (SMMEs) with critical skills needed to grow successful businesses. According to Thys Marx, ESD Manager at Glencore Coal, 'The experience from this group of graduates has been amazing. Your success today is not just a personal victory; it is a true testament to the power of vision and collaboration.' The ESD Training Academy provided each recipient with hands-on training in financial planning, operational management, leadership, and compliance. Otukile Moshori, CEO of Regoapele Capital, encouraged the graduates to apply the knowledge they gained, saying, 'It is possible to achieve the goals that you have set for yourself beginning today; you must apply the knowledge that has been imparted.' Siphiwo Thabethe, founder of Nkosana Enterprise and ESD graduate, expressed gratitude for the programme, stating, 'The programme has provided me with the necessary support needed, as I now feel better equipped and confident that Nkosana Enterprise can go to the next level.' Breaking news at your fingertips … Follow WITBANK NEWS our website, Facebook, Twitter, Instagram or TikTok Chat to us: info@ At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
12-06-2025
- Business
- IOL News
Why corporate giants need to champion SME skills development in South Africa
Many SMEs lack the financial resources to invest in training that would improve the quality of their products or services. By providing financial and resource support, corporates can bridge this gap and enable SMEs to develop the skills needed to meet industry standards. Image: File Though the buzzwords 'job creation' and 'economic growth' often dominate boardroom discussions, it is the humble Small and Medium Enterprises (SMEs) that truly bring these concepts to life. SMEs are the ones taking risks, hiring locally and revitalising our markets. Yet, they are the ones struggling, particularly in accessing the skills they desperately need. The growth potential is clear - SMEs do not simply fill gaps in the market, they create new ones. They innovate and they adapt with a nimbleness that bigger entities lack but this potential is often choked by a lack of resources, especially in upskilling their workforce. It is unrealistic to expect SMEs to compete on a global scale, if they're perpetually battling to stay afloat due to a skills deficit. Corporate self-interest - strengthening the supply chain Many SMEs lack the financial resources to invest in training that would improve the quality of their products or services. By providing financial and resource support, corporates can bridge this gap and enable SMEs to develop the skills needed to meet industry standards. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ To put it bluntly, this is a prime opportunity for corporates to provide real support for SMEs by funding training programmes that enhance their capabilities. The argument for corporates to step in isn't just a matter of social responsibility, it's directly related to self-preservation. Given the sheer scale of interconnected global economies, supply chains are only as strong as their weakest link. By investing in SME skills development through Enterprise and Supplier Development (ESD) initiatives, larger organisations are not just throwing a lifeline; they're strengthening their own position. An SME with a well-trained workforce is a more reliable supplier, a more innovative partner, and a more capable contributor to the wider ecosystem. Strategic investment with skills development as a priorityThrowing money at the problem isn't enough. Too often, ESD funds are misdirected, or worse, squandered, because the recipient lacks the business acumen to manage them effectively. This is where the "skills" part of "skills development" must be brought sharply into focus. SMEs and their workforces require a diverse skill set on top of the basics of management skills, financial literacy, and administrative capabilities. Equipping individuals with these competencies ensures that the right people, possessing the right skills, are in place to maximise the Return on Investment (ROI) from ESD funding. Putting the focus on skills development in the right placeTo achieve this, a dedicated portion of every ESD investment must be explicitly earmarked for comprehensive training. This isn't as complicated as it sounds. To maximise the impact of these initiatives, corporates should partner with accredited training providers, who will bring in the experts to deliver impactful, relevant programmes, tailored to the unique requirements of the SME. Let's not forget the operational burdens that often cripple SMEs - the endless admin, the cash flow struggles, the constant juggling of multiple roles – these are the realities that prevent entrepreneurs from focusing on growth. Corporates can step in to alleviate these burdens by providing resources for administrative support, or by facilitating learnerships and internships where relevant, to give SMEs, the breathing room they need to move beyond survival. Stepping up to champion SME skills developmentIn short, it's about building the human capital that will drive long-term success. By outsourcing training to reputable providers, corporates can ensure that SMEs receive high-quality, relevant skills development that directly contributes to their growth. Such a partner would manage the skills development aspect of the investment from start to finish - covering everything from training materials to compliance reporting, making it almost effortless on the corporate's part to contribute to the growth of SMEs through their supply chain. To get there, however, a paradigm shift needs to happen. Corporate South Africa needs to move from a mindset of charity to a mindset of strategic partnership. This isn't about handouts; it's about investing responsibly in the future of businesses and communities. It's about recognising that when SMEs thrive, South Africa thrives. Daniel Orelowitz is MD at Training Force. Daniel Orelowitz, MD at Training Force. Image: Supplied. BUSINESS REPORT Visit:
IOL News
06-05-2025
- Business
- IOL News
Mashatile backs Transformation Fund to be a game-changer
Deputy President Paul Mashatile. Image: Siyabulela Duda/ GCIS THE launch of the Transformation Fund will help expand spending aimed at supporting African and Black enterprises in townships and rural South Africa led by women, youth, and people with disabilities. This is according to Deputy President Paul Mashatile, who delivered a keynote address at the business breakfast session and launch of the Transformation Fund at the Freedom Park heritage site and museum in Pretoria on Monday. The fund aims to aggregate especially Enterprise and Supplier Development (ESD) funds in support of transformation and the participation of and sustainability of black-owned enterprises in the economy. It is expected that R100 billion will be aggregated over the term of the current administration through a joint effort by the government in partnership with the private sector. The Fund has not gone without opposition, with the DA saying the government cannot create such a fund without first obtaining the explicit approval of Cabinet, especially when it effectively introduces a new tax on the private sector. However, Mashatile described the launch as an important and historic day for South Africa as it marks a key milestone in the country's journey towards economic transformation. 'It will serve as a strategic vehicle for businesses to embrace change, foster innovation, and drive growth. This fund will serve as a catalyst for financial support, guiding organisations through crucial transitions and enabling them to seize new opportunities that arise in the market. As enterprises seek improved access to capital and the need to remain competitive in this dynamic environment, I believe that the Transformation Fund will be invaluable. The proposed Transformation Fund will unleash Enterprise and Supplier Development's (ESD's) potency in driving economic inclusion and participation,' he said. Mashatile assured that the Transformation Fund will be at the centre of government, specifically the Presidency. 'We will work with the Minister of Trade and Industry as well as the key economic cluster Minister to ensure that we meet the set targets, especially in the procurement of goods and services. This will include expanding spending aimed at supporting African and Black enterprises in townships and rural South Africa led by women, youth, and people with disabilities. The Treasury and the Department of Women, Youth, and People with Disabilities have already collaborated to develop such a framework. The focus is to ensure speed of execution and equally implement the Preferential Procurement Policy Framework Act.' Funding will be allocated to various productive sectors of the economy, which includes, among others, services industry, tourism, and agriculture, thereby supporting majority black-owned entities. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕
IOL News
05-05-2025
- Business
- IOL News
Mashatile pledges to protect R100 billion transformation fund from corruption
The fund, proposed by Minister of Trade and Industry Parks Tau earlier this year, aims to create a R100 billion pool to support businesses owned by black entrepreneurs and drive inclusive growth across South Africa's economy, with R20 billion set to be allocated annually over the next five years. Deputy President Paul Mashatile has vowed that the government will put stringent measures in place to ensure that the proposed R100 billion transformation fund does not end up in the wrong hands. The proposed fund has faced criticism from several political parties, including the Democratic Alliance and Freedom Front Plus, who argue that it is merely a rebranding of unsuccessful programmes from the past. Tau has maintained that participation in the fund would be voluntary and emphasised that the government would not interfere with companies already succeeding with their own Enterprise and Supplier Development efforts. During a business breakfast in Pretoria on Monday, Mashatile stated that the government is dedicated to fostering a more inclusive economy, highlighting that corruption in both the public and private sectors continues to be a significant barrier. 'We will not achieve an inclusive economy as long as corruption persists, both in the public and private sectors. Corruption hinders the growth of Small and Medium-sized Enterprises (SMEs) by increasing costs, reducing profits, and creating uncertainty," Mashatile said, according to EWN. He further stressed that to promote an inclusive economy, it was crucial to address corruption by strengthening institutions and fostering transparency and accountability. 'To promote an inclusive economy, we must commit to addressing corruption by strengthening our institutions, fostering transparency and accountability, and promoting citizen engagement. This includes developing and implementing robust anti-corruption frameworks, strengthening our criminal justice system, and encouraging public participation and oversight,' he said. IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel.
