Pretoria - This year’s Enterprise and Supplier Development Annual Business Summit will be held in commemoration of the late businessman Dr Richard Maponya.
Maponya was a South African entrepreneur and property developer famously known for overcoming apartheid restrictions. He built a business empire that contributed to the growth of the economy of Soweto.
His many businesses include the Maponya Mall in Soweto.
After completing matric at Ga-Mamabolo in Limpopo, he moved to Alexandra in Johannesburg where he worked as a teacher.
Later he worked as a buyer for a clothing store in Johannesburg.
After a short stint with the company, he was promoted to the position of chief executive officer.
In about 1940 he started selling soiled clothing and offcuts in Soweto.
With the money he made, he tried to open a clothing retailer in the township, but the apartheid government refused to grant him a licence.
In the early 1950s, Maponya and his wife Marina established the Dube Hygienic Dairy, employing many boys who were using bicycles to deliver milk to customers around Soweto.
In the 1970s his business empire grew to include several general stores, car dealerships, and filling stations.
By the time of his death in 2020 he was regarded as one of the pioneers who played an important role in growing the township economy.
To continue with Maponya’s legacy, African Bank will host a two-day summit at the Maponya Mall, where small business owners will be equipped on how to grow their businesses and create job opportunities for young people.
At the summit, which will take place on Wednesday and Thursday, there will be several speakers who will discuss topics including how small business owners can access funding and grow their businesses to create jobs.
Other issues to be discussed are the role of the youth in the modern digital-era economy, insights into entrepreneurship amid economic challenges, and a broader look at entrepreneurship in South Africa.
There will also be an exhibition showcasing products and services from local entrepreneurs.
The summit, which takes place during the heritage month, will also be used to spot potential SMME service providers and integrate them into the preferential procurement supplier database.
It will enable the enterprises to unlock new markets and gain access to essential funding.
According to Roger Wilco’s 2022 Township CX Report, the total market value of the township economy is estimated to be R900 billion with approximately 60% of the market considered formal and 40% informal.
Edna Montse, African Bank group executive of transformation and sustainability, said: “This year we decided to host the summit at the Maponya Mall to honour Dr Maponya’s contribution to the township economy. Due to his commitment in growing the economy of Soweto, many jobs were created.
“We are confident that this summit will prove indispensable for SMMEs in their growth trajectory, and we encourage all such enterprises to register and take part.”
Montse said it was essential to support the growth and success of small and medium-sized enterprises (SMMEs) because they played an important role in South Africa’s economic landscape as engines for job creation, contributing significantly to the country’s development.
Besides offering employment opportunities, SMMEs drove innovation, bringing fresh and localised solutions to market challenges, she said.
“As many people in South Africa face economic hardships, the resilience and adaptability of SMMEs have become more evident. These businesses are crucial in maintaining the economic fabric during turbulent times, providing essential goods and services, and keeping local communities thriving. The support and nurturing of SMMEs, therefore, is not just an act of empowerment but is central to the nation’s economic recovery and growth strategy.”
Montse said the initiative highlights the bank’s commitment to building connections with SMMEs and its dedication to bolstering previously disadvantaged businesses.
Pretoria News