MSME & Cooperatives Awards honours South Africa’s trailblazing entrepreneurs
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The Department of Small Business Development, in collaboration with its partners, hosted the 3rd Annual National Presidential MSME & Cooperatives Awards, a premier event celebrating the achievements of South Africa’s most innovative and impactful Micro, Small, and Medium Enterprises (MSMEs), cooperatives, and ecosystem enablers.
Held on Friday, 22 November 2024, at the Gallagher Convention Centre in Midrand, the event was graced by President Cyril Ramaphosa and officiated by the Minister of Small Business Development, Stella Ndabeni-Abrahams.
Entrepreneurs were recognised for their outstanding contributions to economic growth, job creation, and addressing social challenges, underscoring the vital role of small enterprises in South Africa’s future.
The Awards featured multiple categories honouring entrepreneurs in diverse sectors. Categories for this year’s MSME Awards included:
- MSME of the Year
- Youth-Led MSME of the Year
- Township SMME of the Year
- Women-led SMME of the Year
- MSMEs Owned by Persons with Disabilities of the Year
- Cooperative of the Year
- Best Employing Cooperative of the Year
- Best Performing Rural Community-Based Initiative of the Year
- Best Performing Urban (Township) Community-Based Initiative of the Year
- Startup Business of the year
- Homegrown MSME of the year
- Breaking Ground MSME of the year
- Business Development Services Provider of the year
- Social Enterprise of the year
- Rural-based MSME of the year
The winners were the most deserving inspirational entrepreneurs who survived a rigorous journey that began at the district level, advanced to the provincial stage, and concluded with the national finals and pitches. This structured process ensured representation across the country’s regions, celebrating excellence from urban hubs to rural communities.
Each category winner received a R200,000 cash grant to strengthen and scale their businesses. First and second runners-up in all categories were also awarded grants to support their entrepreneurial ventures.
The evening’s most prestigious honour, MSME of the Year, came with an additional R1,000,000 prize, and it was awarded to an amazing youth owned business, Arion Power.
In addition to celebrating emerging entrepreneurs, the event honoured business pioneers who have made a lasting impact on South Africa’s economy. Lifetime Achievement Awards were presented to:
- Gloria Serobe, founder of Wiphold, for her trailblazing contributions to economic empowerment and gender equality in business.
- Mike Nkuna, founder of the Masingita Group of Companies, for his transformative impact on property development and economic growth.
Another fitting recognition was awarded at the sole discretion of the Minister of Small Business Development, Stella Ndabeni-Abrahams. The Discretionary Award was presented to Avatar Agency, a leading South African creative agency known for its bold and innovative approach, showcasing the power of homegrown talent in the global arena.
In his keynote address, President Ramaphosa lauded the pivotal role of MSMEs in driving sustainable development and fostering equality: “International experience shows that MSMEs are drivers of sustainable growth. Countries with more MSMEs tend to have lower levels of inequality. Entrepreneurs are the drivers of innovation.”
The President also drew attention to the challenges hindering entrepreneurship in South Africa, pointing to a troubling decline in entrepreneurial activity. “According to the most recent Global Entrepreneurship Monitor report on South Africa, the percentage of adults intending to start a new business in the next three years declined to 10 percent in 2023 – the lowest proportion in two decades. This is a worrying trend at a time when economic growth remains constrained and unemployment persists. It is, therefore, essential that we encourage entrepreneurship.”
Minister Stella Ndabeni-Abrahams emphasised the critical need for innovation and adaptability in entrepreneurship, especially in the context of global challenges and technological advancement: “Countries with higher levels of entrepreneurship tend to be more innovative, adaptable, and resilient. As a nation, we must unlock the opportunities presented by artificial intelligence and other technologies to drive growth and avoid a widening digital divide.”
Highlighting the social impact of entrepreneurial solutions, she added: “Entrepreneurs solve problems for social good. Here in South Africa, we face unique challenges that require collective and innovative solutions. These awards are a testament to the incredible potential of our entrepreneurs to drive meaningful change.”
The National Presidential MSME & Cooperatives Awards celebrate excellence and underscore the Department’s commitment to creating an enabling environment for small enterprises. As the event looks ahead to 2025, it promises to remain a cornerstone in South Africa’s efforts to inspire, support, and elevate the entrepreneurial spirit.
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