Inaugural Township Economy Awards and 6th Annual Summit 2024 Spotlight Entrepreneurial Excellence

Inaugural Township Economy Awards and 6th Annual Summit 2024 Spotlight Entrepreneurial Excellence. The 6th Annual Township Economy Summit, hosted by the Township Entrepreneurs Alliance (TEA), concluded successfully on 21–22 November 2024 in Tembisa, Gauteng. Under the theme “Inclusive Economic Future”, the event gathered township entrepreneurs, corporate leaders, and government officials to celebrate success, explore strategies, and address the challenges of South Africa’s dynamic township economy.

Focusing on seven key industries—Green Economy eKasi, Manufacturing, Transportation, Backroom Market eKasi, Retail & Agriculture, and Technology & Innovation—the summit showcased the township economy’s potential, valued at over R900 billion, to drive economic growth and job creation.

TEA’s Impact

Over the past nine years, TEA has made significant contributions to South Africa’s entrepreneurial ecosystem, impacting over 80,000 township entrepreneurs and providing grant funding to more than 500 township-based businesses. With its national footprint, TEA continues to empower and support local businesses.

Summit Highlights

Keynote Addresses

• Lizzy Mogale, Managing Executive: Insights and Advisory at Nedbank, spoke on leadership and economic transformation.
• Nomadlozi Nkosi, MMC of the City of Ekurhuleni, highlighted small business development’s critical role.
• Lincoln Mali, CEO of Lesaka Technologies, inspired entrepreneurs to adopt integrity and inclusivity in leadership.

Industry Panel Discussions

Green Economy eKasi:

• Hleziphi Siyothula (Mtshizana): Encouraged engaging with investors aligned with township entrepreneurs’ visions.
• Maluta Netshaula (Nedbank): Stressed the importance of information access and incubator programmes.

Manufacturing:

• Fulton Ramaphakela (Vimba Group): Shared insights on supply chains and entrepreneurial longevity.

Technology & Innovation:

• Freddie Mahhumane (KasiD): Highlighted the need to reform education systems as the foundation for innovation and entrepreneurship.

Backroom Market eKasi:

• Panelists discussed long-term asset development, innovation, and financial literacy to unlock growth potential.

Retail & Agriculture:

• Sheldon Tatchell (Legends Barber): Shared his journey from humble beginnings to international success, emphasising perseverance and brand visibility.
• Tom Mkhwanazi (SETA): Highlighted the transformative impact of training and development programmes.

Township Economy Awards 2024

The Inaugural Township Economy Awards honoured businesses and individuals driving change, innovation, and growth. The winners demonstrated excellence across diverse sectors:

Key Award Recipients:

• Agricultural Excellence: Agrishelves Group (Lindelani Xhanti)
• Creative Arts & Culture: Sir Alba Tutoring and Arts Academy (Albert Zitha)
• Green Economy: Enoch and Petros Innovative Creations (Mthimkhulu Qhayiyana)
• Technology & Innovation: Kaymores Marketing Agency (Kissmart Tshabalala)
• Transport: Delivery Ka Speed Pty Ltd (Godiragetse Mogajane)
• Chairman’s Award: Thulani Ntshuntshe

Special Recognitions:

• Lifetime Achievement Awards:Dr. T Mazwai: For his contributions to enterprise development and small business empowerment.
• Ritha Zwane: For inspiring youth entrepreneurs and advancing township economies.

Looking Ahead

The Township Economy Summit and Awards 2024 concluded with renewed energy to transform and elevate township businesses. Founder Bulelani Balabala extended heartfelt gratitude to sponsors, the City of Ekurhuleni, and the resilient entrepreneurs shaping their communities. As Balabala noted, “Let’s continue to transform, elevate, inspire, and ‘GET THINGS DONE!’ Together, we celebrate township entrepreneurship and look forward to greater innovation and collaboration in 2025.”