African Press Association

Business Week spearheads Gauteng township economy

Lebo Gunguluza, SABEF Founder 1

JOHANNESBURG, (CAJ News) – THE Gauteng Township Economy Business Week (GTEB Week 2017) aims to address problems township entrepreneurs face in accessing funding and development opportunities.
Standard Bank will be the headline sponsor of the event and the Funding Convention, the South African Black Entrepreneurs Forum (SABEF), in association with the Department of Small Business Development, will host.
The GTEB Week 2017 will take place in Soweto from Thursday to Sunday.
As part of the event, the attending entrepreneurs can look forward to a special township business development programme with a funding and mentorship convention, as well as a township business showcase.
“They will also have the opportunity to discuss the main issues hindering their success with government organisations, enterprise development organisations, funding agencies, banks, investment companies and venture capitalist,” said Jayshree Naidoo, Head of the Standard Bank Incubator.
Lebo Gunguluza, SABEF Founder, said the aim of GTEB Week was to deal with the issue of financing and funding for black entrepreneurs.
“We want township entrepreneurs to get better access to funding and enterprise development opportunities,” said Gunguluza.
Gauteng townships and government have the buying power of more than R200 billion (US$15,2 billion).
The GTEB Week initiative will educate upcoming township entrepreneurs on how to develop their businesses and showcase the businesses of established entrepreneurs through a series of exhibitions throughout the week.
“This is set to be the biggest gathering of township entrepreneurs, funders and enterprise development practitioners under one roof,” said Gunguluza.
CAJ News