Eastern Cape Development Corporation (ECDC) is set to host
the Black Equity Financing Symposium taking place on August 30 at the
East London International Convention Centre in the Eastern Cape.
The ECDC hosts the Symposium as a platform for engagement on
possible interventions for supporting black entrepreneurs across different sectors
to bridge the equity gap to advance their interests of starting or growing
their businesses.
It has been identified that there is a rising need for
focused venture capital and private equity funding in South Africa to increase
the local pool of black entrepreneurs through funding support interventions to
bridge the equity gap.
Chief Executive Officer of the ECDC, Ayanda Wakaba, has
indicated that “the Symposium will bring together key stakeholders from the
public and private sectors to exchange ideas on the challenges, proposed
interventions, possible areas of collaboration as well as a proposed action
plans.”
Some of the speakers joining the Black Equity Financing
Symposium will be the Department of Small Business Development Minister Stella
Ndabeni-Abrahams, Chief Executive Officer of SEFA Mxolisi Matshamba, DBSA Chief
Executive Patrick Dlamini, ABSA Managing Executive of Public Sector Stephen
Seaka, Black Business Council CEO Kganki Matabane, BMF President Andile
Nomlala, the Chief Executive Officer of the Boarder Kei Business Chamber
Lizelle Maurice, Seed South Capital Managing Partner Sakhile Xulu, Marathon
Group Director Enrico Cupido, NAFCOC President Sabelo Macingwane, and many
other public and private sector enterprise development eco-system builders.
The province will be led by the Eastern Cape Premier Oscar
Mabuyane with provincial business chambers and development agencies joining.
Acknowledging the initiatives which have been introduced in
South Africa to meet the different needs of black owned businesses at different
stages, the ECDC Board-Chairperson Vuyani Jarana points out that, “there is a
need to build on existing instruments to expand reach by black entrepreneurs
across various sectors of the economy, through the development of equity funding
support initiatives for black entrepreneurs, without the risk of losing
ownership of ideas in those transactions.”
