Entrepreneurship

South Africa and Zimbabwe have agreed to boost development of small enterprises and cooperatives in both countries.

According to an agreement signed by the two countries, a team responsible for cooperative development in South Africa will visit Zimbabwe by February 2013.

In a press statement, the Department of Trade and Industry says that the team will study the setting up of a cooperative training academy in that country, explore areas of commodity exchanges and facilitate trade among cooperatives from both countries.

The Black Business Council (BBC) has called for a ministry for small, medium, and micro enterprises (SMME).

Speaking during the BBC president, Ndaba Ntsele, says that the council plans to take the proposal to Luthuli House, the African National Congress’ head office in Johannesburg.

Ntsele stated that most developing economies, such as Brazil, have an SMME ministry, which supports entrepreneurship and the sustainability of the small businesses.

The African Development Bank (ADB) says it has ploughed about R17.5 billion into small and medium businesses in Africa to create jobs and fight ‘endemic’ poverty.

Disclosing the figure at the Innovation Africa summit, which was held in Cape Town, the bank stated that the continent needs decisive and ambitious leadership, warning that poverty, poor infrastructure development and corruption all hamper the continent's development.

The National Youth Development Agency (NYDA) may never recover R161 million of the loans it granted aspiring entrepreneurs, according to the Auditor-General’s office.

In its report to Parliament on the NYDA, the Auditor-General's office also casts doubt on the agency's ability to recoup the millions.

Meanwhile, NYDA chief executive, Steven Ngubeni, says that the agency is in the process of taking legal steps against defaulters because they had failed to give ‘valid’ reasons for not being able to repay their loans.

A Johannesburg-based non-governmental organisation, Hub Johannesburg, has launched a year-long incubation programme for South African entrepreneurs.

The organisation has called on business people to come up with environmental friendly business ideas that can contribute to sustainable development in communities.

The aim of the programme is to find local entrepreneurs who have business-based innovative solutions to problems facing communities and the environment.

As South Africa wraps up celebrations of Women's Month, Progressive Women's Movement South Africa convener, Hlengiwe Mkhize, says women have to be empowered at all levels and not be put in a box.

Mkhize, who is also deputy minister of economic development, believes that promoting women to influential positions was not good enough as most companies had not been transformed.

Nedbank chairperson, Ruel Khoza, says that an absence of visionary leadership is a major stumbling block for entrepreneurs in South Africa.

Khoza, who was recently criticised by the ruling African National Congress for criticising the quality of political leadership in the country, points out that, “Leadership at all levels should demonstrate a commitment to creative freedom."

He states that small, medium and micro enterprises (SMMES) should form the backbone of South Africa's economy, since big business and the state cannot provide enough jobs.