Page 26 - Energize October 2021

NEWS

Business investment competition recognises women

skom is making a call to 100% black women-owned small and medium businesses to enter
this year’s Business Investment competition (BIC) and automatically have access to attend a
Etwo-day “Business Connect” event.
This year’s BIC opened on 30 August 2021 and will close at midnight on 31 October 2021.
The competition, which has been running for 13 years, is open to 100% black-owned
registered South African businesses operating in the engineering/construction, manufacturing,
agriculture/agri-processing, or trade/services sectors.
The collective prize money up for grabs in the BIC is more than a whopping R1,3million. The
overall winner will get R300 000, each sector winner R131 250, each runner-up will get R75 000
and each second runner-up, R50 000.
Eskom recognises that female entrepreneurs continue to struggle with access to financing and
mentorship compared to their male counterparts.
Cecil Ramonotsi, the chief executive of the Eskom Development Foundation (EDF), says
“Through the Eskom BIC and Business Connect, we are offering a solution and equal opportunity
for women-led small and medium businesses to access business skills and funds.” “Our enterprise who were already pressed for funding
development interventions seek to empower small businesses owned by previously disadvantaged before the pandemic and has seen financiers
individuals, particularly women entrepreneurs who lead around 47% of South Africa’s small become more risk-averse. It is against this
medium and micro enterprises,” he adds. background that Eskom is rallying behind
“Women entrepreneurship is a major contributor to socio-economic growth, particularly in female entrepreneurs with efforts aimed at
townships and rural areas by way of job creation and poverty alleviation,” explains Ramonotsi. boosting and sustaining them to weather the
Research has shown steady growth among women entrepreneurs over the years, and although storm,” adds Ramonotsi.
statistics show that women-owned businesses account for a lower percentage of non- “Through the Business Investment
performing loans, presenting a lower risk for business financiers, the funding deficit still prevails Competition, Eskom seeks to address
for female entrepreneurs. the four challenges cited by female
“The severe economic impact of Covid-19 further puts pressure on women entrepreneurs entrepreneurs: access to funding, access to
mentorship, access to business tools, and
a network of expertise. This is achieved
through the BIC, as well as our Business
Connect two-day training workshop BIC
entrants attend after the competition,”
explains Ramonotsi.

Call to action
If you are a qualifying black woman-
owned small business in the engineering/
construction, manufacturing, agriculture/
agri-processing, or trade/services sectors,
do not miss out on this opportunity! Enter at
www.eskombic2021.co.za before midnight
on 31 October 2021.

Contact Madelline Kadzinga,
Eskom Development Foundation. Phone:
076 724-5795, kadzinm@eskom.co.za,
www.eskombic2021.co.za

Contact Katia dos Santos for all your advertising requirements:

Cell: 076 410 6909 • Email: katias@nowmedia.co.za