South Africa boasts the most developed startup ecosystem in Africa but, like in many new businesses around the world, many South African startups aren’t able to pass the three-year mark. The South African government has projected that entrepreneurship will generate 90% of all newly created jobs in South Africa by 2030. Of the 60 million people living in South Africa, 22 million live in townships and informal settlements which is 38% of the country’s working-age citizens.  However, figures cited in a report by the Aspen Network of Development Entrepreneurs (ANDE) put township unemployment at 60%, which is double the rate of the country as a whole. This presents both a significant challenge, but also a huge opportunity – how can we grow small businesses in townships and, more importantly, lock in the wealth created there?  This evening we’re joined by Mr. Refilwe Monageng, Chief Executive of the Black Entrepreneurs Alliance (BEA) to talk about challenges that are faced by black entrepreneurs especially in our townships.

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