Did you know that the informal business sector in South Africa is valued at about 6 Billion Rand? Even so, the financial sector struggles to gain insight into this part of the economy. Financial inclusion for small businesses is still a struggle. Something as seemingly simple as having full access to the banking system is still a challenge for many in the informal business sector. Imagine trying to run a business without access to capital. How would you manage cash flow if you aren’t able to access funds when you most need them? Access to finance is essential, if we are ever going to be a society that strives for inclusion and economic equality.
In this episode, we hear from Phumza Matwele, founder of Eunimike Trading, an over-the-counter pharmacy and healthcare centre in Khayelitsha, on how her business has benefited from seed capital, as well as from serial entrepreneur and finance innovator, Prince Nwadeyi. This insightful conversation shows how new approaches to financing, especially in the informal business sector, open doors to economic opportunities and growth in the most mind-blowing ways.
The Bertha Centre is the first specialised centre in Africa dedicated to advancing social innovation and entrepreneurship and focuses on researching, educating, convening, catalysing and advocating for social, environmental and economic justice. Find out more at https://gsbberthacentre.uct.ac.za/. This podcast is produced by 2stories in collaboration with the Bertha Centre, UCT Graduate School of Business, and the Bertha Foundation. Prince Nwadeyi LinkedIn · Investopedia: What is M-Pesa? · SAB Foundation: Tholoana Enterprise Fund · TED Financial Inclusion YouTube Clip · get.Africa M-PESA YouTube Clip · mastercard.com South Africa's informal economy shows signs of movement to switch away from cash/ · Bertha Centre · Subscribe to the Bertha Centre newsletter · JFAC S4 Ep.3_ Sustainable Capital _ Transcript .pdf — PDF (180.3 KB)