20 August 2024
In celebration of Women’s Month, Black Umbrellas, a partner entity of Cyril Ramaphosa Foundation, is recognising the remarkable achievements of the women entrepreneurs in its programmes. Black Umbrellas is an established ESD incubator that brings partners together to support the growth of SMEs, enabling economic participation that impacts communities.
While entrepreneurship offers a powerful avenue for economic growth, women entrepreneurs often encounter unique structural barriers that require targeted support. According to the Special Report by the Global Entrepreneurship Monitor (GEM), 2023/2024 titled ‘Women Entrepreneurship in South Africa: What does the future hold?’ despite their potential, women entrepreneurs in South Africa face significant barriers.
According to Mark Frankel, CEO of Black Umbrellas: “With the support of our corporate sponsors, more women are enabled to participate in Black Umbrellas’ development programmes, furthering a shared commitment to gender equality and empowerment.”
Black Umbrellas hosted a breakfast to spotlight the inspiring stories of women entrepreneurs who, with determination and resilience, are forging a better future for themselves and the communities they operate in. The gathering brought together a selection of inspiring women who shared their compelling stories, confirming research that women entrepreneurs in South Africa demonstrate incredible resilience and determination as they strive to create a better future for themselves, their families and communities.
“We are committed to playing our part in dismantling these barriers and empowering women to build sustainable businesses that contribute to economic growth and social development. We believe that women entrepreneurs are not just participants in our programmes; they are future leaders and innovators who are forging a brighter future for all of us,” said Frankel.
Among the women entrepreneurs were Gcobisa Nkomo who has recently established a commercial law firm, G Nkomo Incorporated; Thembelihle Sishi who assists SMMEs with a market research publication through her company, Youneeq; Rene Mokoena, the founder of Kgosigadi Communications, a marketing agency and Zintle Ramano, a youth and women-owned digital marketing company.
“Black Umbrellas has demonstrated unwavering faith in me and my abilities, empowering my business to flourish in a traditionally male-dominated industry. As a proud business owner and woman pioneer, I am thrilled to be shattering glass ceilings and making a meaningful impact on the economy and job market.
“Their support has been instrumental in my success, and I am grateful for the opportunity to break down barriers and pave the way for future generations of women entrepreneurs” said Gcobisa Nkomo.
The GEM Report however adds that fear of failure among women entrepreneurs is higher in South Africa (52.5%) than the global average (49.8%).
“This Women’s Month, we wanted to reaffirm our dedication to empowering women entrepreneurs, fostering an environment where they can overcome challenges and achieve success. We are proud of the example they set,” said Mmabatho Maboya, CEO of Cyril Ramaphosa Foundation.
As these women continue to break barriers and build sustainable businesses, they serve as powerful examples of the transformative impact that women entrepreneurs can have on their communities and the broader economy.
‘’We have, over the 19-years that Black Umbrellas has been in existence, seen that that women often reinvest in their communities, leading to broader social and economic benefits. We know that supporting women entrepreneurs has a multiplier effect on community development,’’ Frankel said.
