Sorbet Partners With Bidvest Bank To Boost Female Entrepreneurship In South Africa
Sorbet Partners With Bidvest Bank To Boost Female Entrepreneurship In South Africa. Empowering female entrepreneurs is driving economic growth in countries around the world, including South Africa. According to research conducted by the McKinsey Global Institute, female business owners are contributing R175bn a year to GDP and, between 2018 and 2021, created one million new jobs worldwide. Significant barriers to entry nevertheless remain, especially for women from historically disadvantaged communities. The cause is two-fold: firstly, their ability to access start-up capital is often very limited and, secondly, many lack the business and financial skills needed to set up and run a successful business.
This is where the one-of-a-kind Bidvest Bank Sorbet-Preneur initiative is stepping in to help fill the gap. Established in 2022, Bidvest Bank Sorbet-Preneur is an empowerment programme designed to give Sorbet citizens (all Sorbet employees) who have been working in a store for at least two years, the opportunity to establish their own franchise. These include all Sorbet Salons, Nailbars, Hairbars, Sorbet Man and Candi & Co.
“The aim of the programme is to facilitate development by providing career and life skills opportunities and training to enable interested individuals, especially women, to enter into and thrive in the beauty and grooming industry,” says Linda Sinclair, chief executive officer of the Sorbet Group. “We have so many talented Sorbet Citizens and it’ll be a pleasure to welcome more of them on board as franchise partners at the end of this year’s selection process.”
Hannah Sadiki, CEO of Bidvest Bank adds, “For the second year in a row, we’re excited to trailblaze the Bidvest Bank Sorbet-Preneur initiative. It presents a unique opportunity for entrepreneurs to start their own business. As a bank that invests in small and medium enterprises, we know that true empowerment isn’t just about providing access to funding, it’s also about supporting entrepreneurs on their business journey and helping them to build successful and sustainable businesses.”
Last year’s winners, Sharon Dikgale (Johannesburg), Zimkita Yeki (Cape Town), Sibongile Dlamini (Durban) and Palesa Kaokou (Sun City, Northwest) have hit the ground running and taken ownership of their own Salons. Each winner has been successful in transitioning to franchise partners in their respective locations since winning in 2023.
“Few people who start their careers working in a beauty salon imagine that they might have the opportunity to own a franchise themselves,” says Sinclair. “At Sorbet, our vision is not only to deliver the ultimate beauty and grooming experience for our guests but to elevate individuals, families, and communities. Together with our partners, we are making a real difference to people who would otherwise not have had the opportunity to become a Sorbet franchisee.”
Sadiki comments on this year’s entrants, “This year the quality of applicants far surpassed our expectations, and the decision was taken to increase the finalist numbers from ten to thirteen. In keeping with our commitment, Bidvest Bank will assign a personal banker to each of the winners and give them access to a credit team to help them manage their business finances.”
An initiative like no other, the Bidvest Bank Sorbet-Preneur programme gives aspirant entrepreneurs who are passionate about owning their own salon the chance to become business owners. Sorbet Citizens who are 25 years old or older, have a matric qualification or similar, are South African citizens with a valid ID, and are resident in the country qualify to apply. All Citizens who meet these requirements can apply but, in accordance with national empowerment guidelines, preference is given to black, coloured and Indian women.
All applications for this year’s programme were thoroughly reviewed through a vigorous selection process, considering everyone’s commitment, exceptional service standards and industry knowledge. It’s all systems go as the finalists are preparing to make their presentations on 18 and 19 July. All 13 are receiving coaching to help them put together their pitches and are being mentored throughout the preparation process. Each participant will pitch to a panel of judges, which include representatives from Sorbet, Bidvest Bank, Clicks Group and an independent franchise partner, who will act as a guest judge.
