KwaZulu-Natal Business 2016-17 edition
The 2016-17 edition of KwaZulu-Natal Business is the eighth issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide to the KwaZulu-Natal province in South Africa. The province is unique in terms of its abundant natural and human resources, and is also one of the key drivers behind the South African economy. To complement the extensive local, national and international distribution of the print edition of the magazine (15 000 copies), the full content can also be viewed online at www.kwazulunatalbusiness.co.za. Updated information on KwaZulu-Natal is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our other business-to-business titles that cover all nine provinces, complemented by our flagship publication, South African Business.
The 2016-17 edition of KwaZulu-Natal Business is the eighth issue of this highly successful publication that, since its launch in 2008, has established itself as the premier business and investment guide to the KwaZulu-Natal province in South Africa.
The province is unique in terms of its abundant natural and human resources, and is also one of the key drivers behind the South African economy.
To complement the extensive local, national and international distribution of the print edition of the magazine (15 000 copies), the full content can also be viewed online at www.kwazulunatalbusiness.co.za.
Updated information on KwaZulu-Natal is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our other business-to-business titles that cover all nine provinces, complemented by our flagship publication, South African Business.
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INTERVIEW<br />
alone on a 50:50 basis (half comprised of a loan from<br />
the Masisizane Fund and the other half as a grant<br />
from the KZN Department of Agriculture and Rural<br />
Development). The project has created more than<br />
150 job opportunities, including seasonal workers,<br />
and more jobs will be created as we expand from<br />
1 500 hectares to 3 000 hectares in the next two years.<br />
Could you offer some insight into the focus<br />
of your agribusiness development unit?<br />
The Masisizane agribusiness development unit<br />
consists of dedicated, experienced hands-on individuals<br />
who are tasked to ensure the successful<br />
running of the Masisizane Fund’s investment into<br />
the agri-clusters and turnkey solutions. The agriunit<br />
is responsible for six specific functions:<br />
• Establishment of Agri-Clusters.<br />
• Value chain-orientated development in agriclusters.<br />
• Partnerships and leveraging on partner programmes<br />
– grants, loans and technical expertise.<br />
• Sector intelligence, which includes providing<br />
technical expertise to pre- and post-investment<br />
units, markets trends and so on.<br />
• Turnkey solutions.<br />
• Managing the agri-loan book.<br />
The implementation of the flagship initiative started in<br />
earnest in 2015, when an amount of R100-million was<br />
approved to be disbursed over a three-year period.<br />
To date a total of R24.8-million has been disbursed.<br />
What are the specific ways in which you<br />
assist your clients?<br />
The Masisizane Fund measures its impact in three<br />
ways – development impact, financial growth and<br />
the sustainability of businesses assisted. As such,<br />
the assistance we provide is through financial as<br />
well as non-financial support. The non-financial,<br />
value-adding services include:<br />
• Capacity development (business management<br />
and technical support).<br />
• Financial education.<br />
• Market development.<br />
• Product and service quality standards and<br />
compliance.<br />
Financial support comprises loan financing<br />
(provided by the Masisizane Fund) and grants<br />
provided through strategic partners such as the Old<br />
Mutual Foundation and others.<br />
What sort of trends are you seeing in<br />
terms of SMME businesses?<br />
In general there has been a rise in the number<br />
of small businesses, but what is important is for<br />
those SMMEs to remain in business. We are seeing<br />
a far greater focus being given to small businesses<br />
in particular by government; one example is the<br />
establishment of the Department of Small <strong>Business</strong><br />
Development. When SMMEs are supported in<br />
terms of resources, skills and markets it creates<br />
a real opportunity for them to assist in creating<br />
much-needed jobs in South Africa. The private<br />
sector and government naturally have a significant<br />
role to play in advancing SMME development. Be<br />
that as it may, it has been a tough economic climate<br />
for most SMMEs and emerging businesses. This is<br />
more so the case in the agriculture sector due to<br />
drought, rising inputs, etc.<br />
What makes a successful SMME?<br />
Although there is no one-size-fits-all when it comes<br />
to success, there is a general success trait that most<br />
entrepreneurs show. These usually are people who<br />
are hands-on in their business and know how their<br />
business operates (or should operate), who have<br />
a thorough understanding of the strengths and<br />
weaknesses within their business. This is very important<br />
as it should feed into the approach an<br />
entrepreneur will take in trying to grow their business<br />
while still ensuring that it is sustainable. When<br />
entrepreneurs are financially disciplined they are<br />
more likely to succeed.<br />
CONTACT INFO<br />
Physical address: 21st Floor, Old Mutual<br />
Centre, 303 West Street, Durban<br />
Tel: +27 31 302 5415<br />
Web: www.masisizane.co.za<br />
49 KWAZULU-NATAL BUSINESS <strong>2016</strong>/<strong>17</strong>
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