The Enterprise and Supplier Development Masterclass session 2023 [Video]

On 18 August 2023, The Transformation Legacy hosted an Enterprise and Supplier Development (ESD) Masterclass where keynote speaker, Director of Intelligent Advisor and B-BBEE specialist, Mkhaphi Nkosi addressed an audience of government and industry representatives as well as SMEs on ESD being a powerful tool that can be used to overcome poverty and address the plague of inequality.

“Part of growing our local SME landscape in South Africa means creating a conducive environment for external inputs into business in the form of finance incubation and mentorship. The creation of procurement opportunities is another factor that should be strongly considered to open the markets for SMEs to trade and move towards being large-scale businesses that can compete with big business,” added Nkosi.

The inaugural masterclass session, which was held in Sandton, at the Radison Blu Hotel was aimed at creating a platform to prompt discussions on how corporate, and government can work together to level the playing field for SMEs through an inclusive economic ecosystem. As part of celebrating Women’s month, female led small medium enterprises that have worked with The Transformation Legacy were given the opportunity to showcase their work and share their inspiring journey.

“The ESD Masterclass session is an initiative that speaks to The Transformation Legacy’s mandate of working together with government agencies, SMEs and corporate in building an inclusive economic landscape. In my view, the Masterclass helped us achieve this to some degree. It was a good start to opening-up avenues to have these discussions and make inroads into establishing a more formidable, well co-ordinated economic ecosystem that addresses the existing gaps and takes on new opportunities, that could contribute to restoration of our economy,” said Raphekwane.

Forming part of the programme for the day, were insightful inputs given by panelists who sat to discuss: “Levelling the playing field for SMEs through an inclusive economic ecosystem.” SME advocate selected to form part of the panel discussion, Itumeleng Makgato – Founder of Something about Francis expressed her views about markets in corporate being impenetrable. She called on corporate and government regulations to be more friendly towards SMEs.

ABSA Head of Transformation, Busisiwe Sithole and Government representative from the Department of Small Business Development, Mzwanele Memani were among some of the panellists who spoke strongly about building capacity to drive localisation and the production of proudly South African products, while Sithole emphasised the importance of corporates making a concerted effort in contributing to turning small businesses into big business.