Greater commitment needed to create more black women industrialists
At the recent inaugural Black Industrialists Conference President Cyril Ramaphosa observed that over the past six years the black industrialists programme spent R55bn and supported 900 black industrialists.
There are three challenges that require solutions if we are to accelerate women empowerment in business and, more importantly, create more black women industrialists: According to the African Development Bank Group women find it challenging to secure financing from banks and other financial institutions due to historical shortcomings in the system, such as the lack of appropriately designed financial products and lack of incentives within banks generally to target and lend to women.
In 2021, Old Mutual Alternative Investments concluded a broad-based black empowerment deal to assist in funding the acquisition of a minority shareholding in Imperial Logistics SA by black women-owned and managed investment holding company Afropulse Group, jointly led by Phumzile Langeni and Bongi Masinga. Hybrid Equity provided the preference share funding as part of a quasi-equity related funding package to Afropulse Group to fund the deal in full.
In the light of the significant imbalances between opportunities afforded to men as opposed to women within the socioeconomic landscape, the SA business ecosystem requires a fundamental shift in mindset. We must consciously place women business leaders at the centre of our capital raising and funding programmes.
To appeal to investors and funders companies must have an established track record; proven cash flows, with strong prospects; experienced, proven, quality management teams; and established market presence in solid industries.
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