The Investor - Moneyweb's monthly investment magazine Issue 6 | Page 57

Awethu tackles youth unemployment through entrepreneurship. Themba Khumalo was running a small business making hand pressed bricks in Spruitview, on Johannesburg’s East Rand. He heard about the Awethu Project, a business incubator for black entrepreneurs, on the radio and attended a one-day ‘launch pad’ session. He then joined Awethu’s entrepreneurship training academy. With mentorship and training he outperformed 90% of the graduates on the six-month programme. As a result Awethu stepped its investment up a level and invested R2.5 million into a modern brick plant. Khumalo now has a business that manufactures 35 000 bricks a day and a R7 million supply contract. He employs 22 people. “Awethu did a big thing,” he says, “they funded a guy who didn’t actually have a formal business in place.” Rejoice Majola had no business idea, no business experience and no job prospects. What she had was a degree in entrepreneurship from the University of Johannesburg and a hunger to work. Today she is running baby sign language company We.Can.Talk alongside her Awethu mentor, Denise Thomas. Her business is a start-up and is not yet profitable. “I have sales and revenue targets and I work on these every month. Sometimes I surprise myself when I make or exceed the target. When I don’t, I don’t get discouraged. I understand that this takes patience and perseverance.” The Awethu Project, which is backing Themba and Rejoice, provides entrepreneurs – from spaza owners to black industrialists – with training, mentorship, management support and funding. Yusuf Randera-Rees founded the business in 2010. In six years it has grown from a R60 000 start-up to a company with R180 million in funding for entrepreneurs. It all started, he says, with the experience of growing up in a mixed-race home which, while a privilege, cre