South Africa: Western Cape Economic Development and Tourism On Western Cape Funding Fair

press release

In excess of 3 000 entrepreneurs registered to attend this year’s Western Cape Funding Fair (WCFF).

The WCFF, which took place at the Cape Town International Convention Centre today (10 May 2017), is a platform to connect funders and entrepreneurs. Speakers shared funding advice and entrepreneurs were able to network with funders.

Now in its third year, the event is a partnership between the Western Cape Department of Economic Development and Tourism and Deloitte. Through the Funding Fair, over R12 million in funding has been approved to entrepreneurs since 2015. A further R30 million worth of deals is currently in the due diligence phase.

Alan Winde, Minister of Economic Opportunities, said: “Our commitment to foster the spirit of entrepreneurship in the Western Cape is unwavering. Through our engagement with entrepreneurs, we have learnt that the most common problem they face is around gaining access to finance in order to grow their businesses. We know that innovative entrepreneurs play a significant role in driving the Western Cape economy. That is why we support initiatives like these which prepare entrepreneurs for fund raising and help to connect them to potential investors. I would also like to thank Deloitte for sharing in our commitment to supporting entrepreneurs.

“The Funding Fair is one of several programmes we have put in place to give entrepreneurs the support they need to grow. Through our Investment Readiness workshops, entrepreneurs receive training in how to correctly package their funding applications to financial institutions. We’re also committed to making it easier to do business in the Western Cape, and our Red Tape Reduction Unit has saved businesses R600 million to date,” said Minister Winde.

Marius Alberts, head of Deloitte Western Cape, said: “To enable small business to succeed it is important that the people with innovative ideas and skills have access to the vital entrepreneurial resources like money, and know-how to grow their businesses.

“When small businesses prosper it stimulates economic growth through job creation, and it is for this reason that we are delighted to partner with DEDAT on this important initiative.”

“Today not only did we have a full house attending our curated speaker programme, but we also had an impressive turnout from funders who are eager to potentially invest their money in great businesses. There is immense satisfaction meeting with passionate business owners and entrepreneurs who are hungry for the right information to help their businesses succeed.”

Entrepreneurs will connect with 24 active funding organisations at the WCFF. The speaker line-up included entrepreneur Rapelang Rabana, Matsi Modise, Managing Director of SiMODisa and Jason Goldberg, Founder and CEO of 10x-e. Representatives from ABSA, Business Partners, CCDI, Edge Growth, SEDA, SEFA and Nedbank were available to meet with business owners throughout the day.

Follow the event on Twitter via #WCFundingFair.

Issued by: Western Cape Economic Development and Tourism

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