Time for South Africa to rethink its approach, prioritise entrepreneurship

As SA prepares for its seventh general election on May 29, we stand at a critical crossroads that demands both reflection and decisive action. Yet, amid the noise of political campaigns, a glaring oversight emerges: a deafening silence on nurturing our nation’s entrepreneurial spirit.

The urgency of fostering entrepreneurship is underscored by the staggering unemployment figures, with more than eight million South Africans currently grappling with joblessness. Alarmingly, nearly five million of them are youth aged between 14 and 35 years.

The lack of emphasis on entrepreneurship from the anticipated 70 contesting parties is deeply concerning, given that our economic path and social progress are intricately linked with the vibrancy of our entrepreneurial ecosystem.

Reflecting on the pre-1994 era, we draw inspiration from giants like Richard Maponya, Ephraim Tshabalala, Sam Molope, Agripa Mayaba, Habakuk Shikwane, Thalente Goqo and Dr Sam Motsuenyane, whose entrepreneurial endeavours not only defied the constraints of apartheid but also laid the foundation for industrialisation and economic empowerment.

However, achieving economic prosperity and social justice requires more than just individual success stories; it necessitates collective action to empower the next generation of entrepreneurs. From the bustling streets of Mpumalanga to the vibrant markets of Soweto, tales of entrepreneurial triumph resonate through our history.

Consider the tale of Nomalizo, aged 55, a rural Mpumalanga street vendor who single-handedly raised seven children by selling fruits and vegetables.

Despite having only completed grade 6, she displayed remarkable determination and resilience, ensuring her family’s survival and prioritising her children’s education.

Through her unwavering efforts, Nomalizo not only reversed cycles of poverty but also paved the way for her children to become the first generation of achievers in their family.

There are many other entrepreneurs like Nomalizo. Yet, the lack of support from subsequent governments has left many such people vulnerable, with the next generation struggling to sustain or build upon their parents’ accomplishments.

Despite the presence of numerous government institutions purporting to support entrepreneurial endeavours, these services often operate from positions of privilege, leaving many real entrepreneurs, especially those from marginalised communities or rural areas, unaware of or unable to access such support.

While countries like India, Mexico and Ghana prioritise entrepreneurship as a vehicle for economic development, SA continues to lag behind.

These nations have implemented strategies that foster entrepreneurship at its grassroots – initiatives to support SMEs, provide access to funding and resources for entrepreneurs, and created an environment conducive to innovation and business growth – resulting in vibrant ecosystems where innovation thrives, and opportunities abound.

SA can learn valuable lessons from Canada’s strong support infrastructure for start-ups, commitment to diversity and inclusion, and strategic initiatives like the Startup Visa Programmes which offer valuable insights into fostering an entrepreneurial ecosystem.

To the yet-to-be-voted politicians, I offer this advice: Be exemplary leaders by prioritising entrepreneurship as a vehicle for change. It’s time for SA to rethink its approach and prioritise entrepreneurship as a driver for change.

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‘‘ SA can learn from Canada’s strong support infrastructure for start-ups