Through the promotion of entrepreneurship, the SAB Foundation not only expands the South African economy, but is also instrumental in the creation of thousands of jobs.
SAB Foundation cultivates entrepreneurship
The promotion of entrepreneurship in South Africa has a very positive effect not only on the economy, but also on job creation. However, many of the entrepreneurs in South Africa come from backgrounds where they have no access to capital. In answer to this, the SAB Foundation was set up with the very specific mandate of benefitting entrepreneurs in South Africa, specifically those who provide solutions to social problems.
#SAINC met two passionate young entrepreneurs who are enthusiastic about creating a social impact. Nthato Moagi of CRSP DSGN, teaches robotics and coding to children from low income schools, in order to prepare them for the fourth industrial revolution. Bathabile Mpofu of Nkazimulo Applied Sciences, provides portable science kits to schools where there are no science labs, thereby enabling kids to do experiments.
The Foundation supports entrepreneurs not just through the provision of funding, but also by providing business support and mentorship. From supporting rural bakers and food gardens, to a recruitment agency for deaf people, the Foundation was also instrumental in the creation of over 3 300 jobs. They see the support of entrepreneurship as not only having significant potential for scale and replication, but also as an incredible opportunity to make a long-term difference.