Celebrating thirteen years of entrepreneurial impact
Since it was established in 2010 The SAB Foundation has been dedicated to supporting and empowering small, medium, and micro-sized enterprises in South Africa. The SAB Foundation has deployed an impressive R534 million in grant funding, business development support, and interest-free loans to 5 229 entities.
At the heart of the SAB Foundation's entrepreneurship support efforts are three flagship programs that have become instrumental in driving positive change:
The Social Innovation Awards programme is aimed at innovators and entrepreneurs with prototypes or early-stage businesses that can help solve social issues. Winners receive grant funding ranging from R200 000 to R1.3 million along with tailored mentoring and coaching.
The Tholoana Enterprise Programme is a comprehensive 18-month business support programme that includes grant funding, mentoring and coaching and access to networking opportunities. The programme has a special focus on women, youth, people in rural areas, and entrepreneurs with a disability. The programme nurtures their potential and commitment to foster business growth and create job opportunities.
Disability Empowerment Programme is designed to empower social entrepreneurs whose innovations provide solutions for persons with disabilities. Working in partnership with the Medunsa Organisation for Disabled Entrepreneurs, this grassroots-level programme equips individuals with disabilities with valuable skills and knowledge.
The impact of the SAB Foundation's initiatives is measurable and substantial. Collectively over the past 13 years the programmes have:
· Seen a 90% increase in turnover by the entrepreneurs it supports from R371 million to R720 million;
· 10 871 people were employed;
· 43 484 livelihoods were directly impacted and;
· 6 886 new jobs were created.
Entrepreneurs who have benefitted from the programmes of the SAB Foundation expressed their appreciation and shared their experiences.
The Deaf Empowerment Firm (DEF) founder, Alex Msitshana, praised the Foundation's mentoring and business development assistance, attributing the organisation to being the growth catalyst for DEF.
Similarly, Thulile Mtetwa, founder of Memeza, a low-cost alarm system, highlights the personal attention and practical insights received from the SAB Foundation, which empowered their social enterprise to thrive and make a significant positive impact in communities.
Memeza has made a significant positive difference in Soweto, Diepslot with 98% in theft prevention in 226 schools and 89% improvement in SAPS response times to crime in low-income communities. They have also created 3 450 income opportunities.
Another notable success story is Miles Khubeka, founder of Gcwalisa, whose refill dispensary outlet addresses the issue of single-use plastic while providing affordable staple food items to low-income communities. The SAB Foundation recognised Miles’s innovation through the Social Innovation and Disability Awards programme, granting him R500,000 to invest in his business.
Shivad Singh founded Head Start Education, an online platform that provides digital educational content for teachers and students. His journey with the SAB Foundation began when he was selected for the University Seed Fund in 2018. In 2022, he was named a winner of the SAB Foundation Social Innovation Awards and is now receiving support from the SAB Foundation Social Innovation Fund.
The SAB Foundation recently launched an R88 million Financing for Impact Fund programme in partnership with Lead Impact Capital and the National Treasury’s Jobs Fund, to offer affordable financing for qualified alumni of the entrepreneur programmes.