GUGU MHLONGO
R60 000 in cash prizes is up for grabs at the annual, Standard Bank Kasi SME Pitch Challenge. An initiative by The Standard Bank, in empowering black -owned businesses and entrepreneurs with the opportunity to expand their footprint, nationally. The competition forms part of the efforts of Standard Bank’s Enterprise and Supplier Development (ESD) programm. That is designed to strengthen and grow black-owned businesses in South Africa by improving access to funding, skills development, and market opportunities.
This year, the competition has gone national, giving entrepreneurs across all nine South African provinces the opportunity to pitch for their share of R60 000 per province. The top achievers for each province will advance to the competitions national finals to be held later this year. Here, the entrepreneurs will be competing for a bigger stake and an opportunity for their businesses growth and exposure. Applications for the Provincial entries close on 6 May 2025.
From all the entries, only 15 participants will be selected and invited to pitch their businesses to the panel of judges in each province. The participants who receive third-place, will be awarded with a cash prize of R10 000. Second-place will receive a cash prize of R20 000 and the overall winners will each receive a wopping R30 000, cash prize.
Over and above their cash prizes, the top two winners from each province will each have the opportunity to attend a detailed pitching masterclass. With the aim of sharpening their business models, storytelling abilities and to improve on their presentation skills.This will all be in preparation to compete against each other at the national competition later this year. Heare, the participancts stand a chance of winning, their share of R500 000 in prizes.
“For years, township entrepreneurs have been an unstoppable force for economic growth and social change. Through this year’s efforts, we are investing in the great potential of the businesses operating in South Africa’s township economies, equipping them with not just funding, but most importantly, the knowledge and national exposure to help them turn the prevailing possibilities into solid business opportunities,”. added, Naledzani Mosomane, Head of Enterprise Development at Business and Commercial Banking, Standard Bank South Africa.
Eligible township entrepreneurs must:
- Be black South African citizens
- Be formally registered with the Companies and Intellectual Property Commission (CIPC) or trading as Sole Proprietors
- Be operating businesses that are at least 51% Black-owned, with a valid B-BBEE accreditation
- Generate annual revenue between R0 and R5 million
- Be a business operating for at least 12 months, with a business profile and proof of ID
- NOT be a non-profit/governmental organisation (NPO or NGO), co-operative, joint venture, and/or Standard Bank employee.
As the trusted partner for business growth, Standard Bank Business and Commercial Banking is committed to helping enterprises start, manage, and grow through human-led relationship management, strong digital solutions, and a deep understanding of sector-specific needs.
Interested entrepreneurs must visit this link https://bit.ly/4m6fhxE to apply for the Standard Bank 2025 Kasi SME Pitch Challenge and secure their chance before Tuesday, 6 May 2025.