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Advancing Support for Black Entrepreneurs Through Equity Finance

The Eastern Cape Development Corporation (ECDC) calls for joint and increased commitment from public and private sector towards advancing support for black entreprenuers through equity finance.


23 August 2022



The ECDC is set to host the Black Equity Financing Symposium taking place on 30 August 2022 at the East London International Convention Centre in the Eastern Cape.


The ECDC hosts the Symposium as a platform for engagement on possible interventions for supporting black entrepreneurs across different sectors to bridge the equity gap to advance their interests of starting or growing their businesses. It has been identified that there is a rising need for focused venture capital and private equity funding in South Africa to increase the local pool of black entrepreneurs through funding support interventions to bridge the equity gap.


Chief Executive Officer of the ECDC Ayanda Wakaba has indicated that “the Symposium will bring together key stakeholders from the public and private sectors to exchange ideas on the challenges, proposed interventions, possible areas of collaboration as well as a proposed action plans.”


Some of the speakers joining the Black Equity Financing Symposium will be the Department of Small Business Development Minister Stella Ndabeni-Abrahams, Chief Executive Officer of SEFA Mxolisi Matshamba, DBSA Chief Executive Patrick Dlamini, ABSA Managing Executive of Public Sector Stephen Seaka, Black Business Council CEO Kganki Matabane, BMF President Andile Nomlala, the Chief Executive Officer of the Boarder Kei Business Chamber Lizelle Maurice, Seed South Capital Managing Partner Sakhile Xulu, Marathon Group Director Enrico Cupido, NAFCOC President Sabelo Macingwane, and many other public and private sector enterprise development eco-system builders. The province will be led by the Eastern Cape Premier Oscar Mabuyane with provincial business chambers and development agencies joining.


Acknowledging the initiatives which have been introduced in South Africa to meet the different needs of black owned businesses at different stages, the ECDC Board-Chairperson Vuyani Jarana points out that, “there is a need to build on existing instruments to expand reach by black entrepreneurs across various sectors of the economy, through the development of equity funding support initiatives for black entrepreneurs, without the risk of losing ownership of ideas in those transactions.”


MEDIA IS INVITED AS FOLLOWS


Date: 30 August 2022 - 09h00 – 16h30

Venue: East London International Convention Centre

RSVP: Fikile Mzinyati at fmzinyati@ecdc.co.za / 060 567 9391


Issued by the Eastern Cape Development Corporation



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