A great leap forward is possible for SMEs in the manufacturing sector who enter the Eskom Business Investment Competition (BIC). It has officially opened for entries and SMEs are encouraged to enter before entries close at midnight on 12 February 2021.
According to Eskom manufacturing is the fourth largest industry in South Africa and bolstering participation in this sector provides a ripple effect in boosting technology and engineering in the country. It also goes a long way toward creating jobs.
“It has been a tough year for businesses in the manufacturing sector having to contend with a shortage of raw materials, a shrunken workforce and, in some cases, a limited capacity for production due to the Covid-19 pandemic,” said Madelline Kadzinga of the Eskom Development Foundation.
Last year’s entrants prove that this sector is diverse and vibrant where so many innovations and entrepreneurs are opening up the industry. This is demonstrated by Bona Once Bona Twice and sisters Kedibone and Kekeletso Tsiloane, founders of a 100% black woman-owned plastic brick manufacturer, Ramtsilo Construction and Manufacturing that emerged as the 2019 category winner.
The sisters attribute a part of their success in 2020 to their experience in the BIC. “We got such value from being part of the BIC, besides having won in our category and the brand awareness that the win provided. As entrepreneurs, we learnt so much about how we could refine our business, which has resulted in us opening up our second and larger production facility in Benoni after only operating from the Free State,” says co-founder Kedibone Tsiloane.
The competition is open for registered black-owned small and medium enterprises across the country which have been operating for 24 months or longer. SMEs that believe they have what it takes to be the next finalist, should visit www.eskombic2020.co.za. For support and assistance, small business owners should email Grounded Media email@example.com.
Winners in each category will take home R131 250.