In the heart of South Africa’s bustling townships, a quiet revolution is taking place. Spearheaded by Nedbank, one of the country’s most innovative financial institutions, the spirit of entrepreneurship is being fostered in the most unlikely of places. Their initiative, the ‘Proud of My Town’ campaign, is a beacon of hope for many struggling township communities.
Ciko Thomas, Group Managing Executive, Nedbank (60 Sec)
Growing up in New Brighton, a township in Port Elizabeth, Ciko witnessed the resilience and vibrancy of the community. In these areas, where the largest portion of South Africa’s population resides, money and opportunity abound. Recognising this potential, Nedbank invested in state-of-the-art branches, providing the community with top-tier banking infrastructure. More than just a financial institution, these branches became gathering spaces, fostering an emotional connection rooted in the philosophy of Ubuntu.
Where physical branches were economically unfeasible, Nedbank partnered with companies like Boxer, ensuring access to banking services through micro Nedbank boxes. This deep understanding of community needs has allowed the bank to become an integral part of the townships, contributing to their betterment and development.
Nqobani Mbanjwa, Founder of Ikamva Recycling (60 Sec)
In the townships, entrepreneurial role models were scarce, and many youths looked up to gangsters. Driven by a desire to change this narrative, as a young graduate from the University of Johannesburg, Nqobani saw an opportunity in recycling. With a strong work ethic and vision, he attended workshops by Indalo and Nedbank, where he gained valuable business knowledge and secured funding to establish a buyback center for recycling.
This venture not only turned trash into treasure but also provided hope for the community by transforming waste into cash. By addressing social and environmental issues, the business has become a source of pride, skill development, and environmental sustainability. The story highlights the immense potential of the township economy and the role banks like Nedbank play in empowering entrepreneurs to create a better future.
Bulelani Balabala, Founder of TEA (Township Entrepreneurs Alliance) (60 Sec)
In the face of unemployment challenges, community leaders in Mamelodi launched the ‘Proud of My Town’ initiative to foster entrepreneurship. Working alongside Bulelani, Nedbank has supported over 60,000 township entrepreneurs through workshops, networking, and business development support. Their commitment to local procurement ensures that events directly benefit the immediate community.
Nedbank’s support for township entrepreneurs was evident during the COVID pandemic and subsequent riots, as the bank helped rebuild affected businesses. To promote financial inclusion, Nedbank has invested in township branches and partnered with other companies to ensure accessibility. This deep engagement in uplifting the community reflects the bank’s purpose as money experts who do good.
Onicah Theledi, The Pitch My Hustle Winner (60 Sec)
Onicah was in the beauty industry as a massage therapist for 8 years but always wanted to own a mobile spa. With a high unemployment rate and lack of business skills, she needed to find a way forward and become the entrepreneur she’d always dreamed about.. After participating in the ‘Pitch and Hustle’ competition, a part of the ‘Proud of My Town’ initiative, Onica has taken her business to new heights. Her Optimal Balance mobile spa was declared the overall winner. Winning has given her a vision of where she wants to go and is grateful for the ongoing support of Nedbank.
Bulelani Balabala Founder of TEA (60 Sec)
The township economy is a resilient force, one that knows how to stretch limited resources and make the most out of them. This understanding was essential for our success in partnering with local communities.
With Nedbank’s support, over 60,000 township entrepreneurs have been impacted through flagship programs such as business workshops. These workshops share information, offer business development support, and provide networking opportunities for entrepreneurs. Furthermore, they train participants on how to pitch their businesses effectively.
An essential aspect of the initiative is that Nedbank has committed to localizing all procurement. Everything used in the workshops, from social media and content creation to photography and catering, is sourced from the immediate community. This inclusive approach is the kind of disruption needed by a big business to support the township economy. By working together, we can create a powerful movement – Bheke le Bheke.
Corporate Overview
In the heart of South Africa’s bustling townships, a quiet revolution is taking place. Spearheaded by Nedbank, one of the country’s most innovative financial institutions, the spirit of entrepreneurship is being fostered in the most unlikely of places. Their initiative, the ‘Proud of My Town’ campaign, is a beacon of hope for many struggling township communities.
Growing up in the townships, many South Africans like Rhulani Maluleke, Nedbank’s branch manager at Mams Mall, understand the challenges faced by their communities firsthand. Joblessness is rampant, but so is resilience, creativity, and an indomitable spirit. These communities, largely neglected by traditional banking institutions, have become the crux of Nedbank’s transformational strategy.
The ‘Proud of My Town’ initiative was born out of a simple, powerful idea: to infuse the spirit of entrepreneurship in township communities, creating thriving businesses that build robust local economies. Community leaders have been engaged to identify potential solutions for unemployment, and the focus has been on nurturing local talent and entrepreneurial spirit. The result is a vibrant ecosystem where township businesses and Nedbank mutually benefit.
One such example is Onicah’s Optimal Balance mobile spa. After winning the ‘Pitch and Hustle’ competition, a part of the ‘Proud of My Town’ initiative, Onicah has taken her business to new heights. She attributes her success to the vision and support she received from Nedbank, emphasizing that the bank truly cares about the well-being of its customers and the community.
At the heart of this success story is Nedbank’s deep understanding of the township economy and the people it comprises. Ciko Thomas, Group Managing Executive for Nedbank Retail and Business Banking, emphasizes the importance of supporting micro-industries in townships. By doing so, they are creating employment opportunities and fostering a resilient economy.
The ‘Proud of My Town’ initiative is a testament to the philosophy of Ubuntu—a belief in the universal bond of sharing that connects all humanity. By investing in the people of the townships, Nedbank is not just uplifting communities; it is transforming the very narrative of South African entrepreneurship. This story of empowerment is one of many, and with Nedbank’s ongoing commitment, it is certain to be followed by many more.
SUBSCRIBE TO OUR NEWSLETTER
If you want more of this inspiring content, join our newsletter.
We promise not to spam you!