Advertorial | SA’s social entrepreneurs need support to succeed | Citypress

, Fetola has recently opened entries for the 2021 Social Entrepreneurship Impact Lab™ Programme. Running for the second year in a row, SEIL supports the growth and investment potential of organisations that are tackling social, environmental and economic issues in South Africa.

Sibanda explains that, with more than 50% of social entrepreneurs having less than five years of relevant experience before starting their enterprises, they need mentoring and coaching from more experienced entrepreneurs who have negotiated the fundraising landscape. “In my experience, they also typically need help with refining their value proposition, testing operational assumptions, strengthening their business model and improving investment readiness.

“Moreover, they need assistance with business basics such as strategic planning, building their costing and pricing model, developing their sales and marketing strategy, pitching as well as leadership and people management. Most importantly, they need introductions to potential partners and finance providers.

In South Africa, it is estimated that roughly 3.7 million girls and women cannot afford sanitary pads. Bella Legacy equips low-income earners and schools in poorer communities in South Africa with affordable sanitary pads. In the wake of the COVID-19 crisis, founder Matefo Morakeng expanded her business. Working closely with her mentor, she started selling her products on large e-commerce sites like Takealot and Loot.

“As Bill Drayton, the person credited with first coining the term ‘social entrepreneur’ back in 1972, said, ‘The life purpose of the true social entrepreneur is to change the world’. Sometimes, they just need a little help doing so,” concludes Sibanda.

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