African Bank launches a new SME development programme

From left to right: Zinhle Mncube, Investment associate - 22 On Sloane; Lindiwe Miyambu head: human capital African Bank; Edna Montse, African Bank’s chief of staff and head: transformation and sustainability; Darryl Adriaanzen, African Bank group executive: operations | image supplied

Twenty supplier development and enterprise development businesses were shortlisted and will start the 12-month programme in June 2022 and end in May 2023. The SMEs are from varying sectors including ICT, agriculture, architecture, insurance, recruitment, marketing, corporate gifting, interior design and more.

The curriculum focuses on ensuring business readiness and helping SMEs to launch, scale and commercialise their businesses. It will also assist with access to markets and funding. The programme includes a combination of tailored group sessions as well as one-on-one sessions.

As part of the programme, African Bank will provide participants with guidance and support to start and grow their businesses in both local and global markets. The two major components of the programme are: Business Readiness Level (BRL) and Technical Capability Level (TCL).

The different types of funding available for small businesses

20 May 2022

“We have partnered with 22 On Sloane to design and deliver the curriculum and give participants access to its vast networks of global startup ecosystem enablers, corporates, and investors. The programme offers the tailored capability and capacity development aimed at driving market and investor readiness in SMEs. It also facilitates access to markets and access to capital for the SMMEs.

“An additional grant allocation of R1m will be equally awarded to the top five performers (R200k each) at the end of the programme for use in their business. We trust that participants will make the best use of this opportunity and work together with us to get their businesses and/or products ready for market,” says Edna Montse, African Bank’s chief of staff and head.