Page 21 - IDC

CITY PRESS, 13 MARCH, 2016 15

Female-owned
Economics businesses

supported

by the IDC
reshaped Total number of businesses:75

40 are 23 of Of the remaining 35
100% whom businesses, women own
owned by are black between 51% and 90%
women, women of the stakes
A Large 17 Small and medium- 58
businesses: sized businesses:
PROJECT IN
Value of IDC investment:
PARTNERSHIP R859 309 683

WITH THE Sectors supported
IDC

GREAT AMBITIONS Noma Nibe is the human resources executive director at Steloy Castings PHOTO: LEON SADIKI Agro- Chemical and Clothing and
industries allied industries textiles
With help from the IDC, Noma Nibe has created a position of power and R12 964 000 R90 661 270 R160 169 402

influence for herself in an industry traditionally dominated by white men

POLOKO TAU that did work for Steloy. created for young investors,” he says. Construction Green industries Franchising
“Danie was coaching me in the foundry industry, and one
Nibe says that, as a shareholder, she soon became more
poloko.tau@citypress.co.za of the things I focused on was to transform the then 100% involved in the business. R55 100 000 R9 000 000 R3 180 000
A from any other ordinary office worker in her and skills development targets,” she says. involved in operations and I also go out a lot in search of
white-owned company to ensure it met its BEE requirements
“I didn’t just buy shares to be a fronting person. I am
t first sight, Noma Nibe looks no different
new business for the company,” she says.
modest administration block at Steloy Castings
“It was around this time that I noticed an opportunity
when Transnet and other rail contracts started coming
in Ekandustria, outside Bronkhorstspruit,
She has done it for herself, but her dream is to see more
young people getting involved in the “little-known foundry
Mpumalanga.
through.
Mining and
Forestry
Like all the other staff members there, she
“I immediately approached Danie, offering to buy shares in
minerals
and machinery
seemed oblivious to the irritating whine of steel being cut and Steloy, but he laughed it off, probably wondering how a 23- industry”. and wood Metal, transport beneficiation
“Not a lot of people know about the foundry industry, but
products
products
the clanking coming from the workshop just metres away. year-old could afford to buy shares that were worth millions Steloy and I are going to change this. We’re going to R101 085 180 R7 800 000 R11 129 510
It was only when Nibe was seated next to company CEO of rands. After looking around, the Industrial Development universities, engaging student engineers and students in
Danie Slabbert in the boardroom – thankfully, some distance Corporation (IDC) came on board with funding.” related disciplines to take an interest in foundry, and we
away from the workshop – that it became apparent that she Nibe formed a consortium with another company and, intend to give them further training and exposure,” Nibe says.
was no ordinary worker, but a businesswoman of note. The together, they bought a 26% stake in Steloy. She owns 70% of “This company will have more young faces than ever before
shrewd business persona emerged from behind a beaming the 26% stake. in the next year.”
face and a contagious smile. “This transaction was also good for Steloy, enabling it to One person who was spotted while studying to be a
At the age of 26, Nibe, who hails from Port Elizabeth, owns smoothly diversify into the railway sector. It was a positive metallurgist at the University of Johannesburg was Anicia Media and Information and
a sizable chunk of the company. injection for the company in terms of business prospects,” she Dipale, who is now a product development engineer at Steloy. motion pictures Tourism communication
R64 353 525
technology
The multimillion-rand foundry company makes and supplies says. “The exposure at Steloy has helped me grow as a person R22 601 500 R247 111 696
a full range of stainless steel, superalloy and carbon steel Slabbert says there were lots of opportunities in the rail because I put whatever I learnt at university into practice.
components to markets as diverse as pump and valve industry and there was a need for his company to “expand Students need practical exposure and I believe foundry can
manufacturers, and petrochemical, chemical, glass, cement, and modernise its facilities”. offer a lot of that,” Dipale says.
rolling stock and power-generation industries. “It is good that, unlike the banks, the IDC doesn’t look at For Nibe, now Steloy’s human resources executive director,
Until three years ago, she was employed as a human security such as assets, but their finance schemes are based it does not end here. Shipping Healthcare Venture capital
resources manager. She was recruited by Slabbert, who was more on opportunities that exist, and that is a good business “Who knows? Three years from now, I might open my own R50 000 000 R17 196 600 R15 000 000
impressed by her work, while she was still with a consultancy principle. They came on board and an opportunity was plant,” she laughs.
Where the businesses are:
Gauteng Free State
Number of businesses: 26 Number of businesses: 3
HOTELIER DOCTOR ACCOUNTANT
Lindiwe Sangweni-Siddo (49) has Telemedicine Africa is the The second of eight children,
spent 25 years making a name for brainchild of Dr Moretlo Molefi. The Matsotso Vuso (43) grew up in
herself in the hospitality industry. company uses technology to bring Limpopo. A bursary from the SA
She co-owns the Soweto Hotel and healthcare to inaccessible areas in Institute of Race Relations enabled
Conference Centre in Kliptown, Africa. her to study at the University of
Soweto, an up-market four-star Lindiwe A single mum of two teenage Dr Moretlo Molefi Cape Town, where she completed Matsotso Vuso
establishment on historic Freedom Sangweni-Siddo boys, Molefi (47) has pioneered a her BCom degree and qualified as a
Square, where the Freedom Charter way to provide cost-effective medical diagnosis and chartered accountant. North West Limpopo
was adopted in 1955. treatment. Vuso was an accounts manager at the IDC for five years Number of businesses: 4 Number of businesses: 1
“In 2005 I sensed an opportunity from an advertisement that “Telemedicine Africa started in 2008 and it is basically before she left to build a business advisory company focusing on
was posted in the Sowetan newspaper. It was a proposal to trying to bring healthcare to rural populations that otherwise financial plans and auditing. Her group of businesses has
develop and build the Soweto Hotel. At the time, it did not have a wouldn’t have access to it. So if there’s a patient in Venda expanded to include her latest venture, Nyamezela Group, which
name; the ad was simply about developing a hotel. I found some who needs a specialist, but there aren’t any located there, makes prepaid electricity meters. Vuso runs the business with
partners and we put together an operational plan,” she says. they can see the specialist through our technology,” she says. her husband, Chris.
“That’s when I visited the IDC. I presented the plan to them “After approaching the Industrial Development Corporation “Our relationship with the IDC is a new one, and they’ve given
and managed to get approval for the funding of the hotel.” to build a virtual healthcare centre to add to Telemedicine, I us the facility of R40 million. When I first went to the IDC for a
The IDC funded Sangweni-Siddo and her partners to the tune received funding for R2 million,” Molefi says. project I received in Zimbabwe, the funding was declined. I still
of R24.5 million. Molefi studied telemedicine at the University of Arkansas believed I could make it though.”
“I am aware that challenges exist for female entrepreneurs, in the US after graduating from Medunsa in 1995. Before Vuso, who has two teenage sons and a seven-year-old
but I have never allowed myself to be drawn into negative studying medicine, Molefi graduated with a BSc in biology daughter, says women ought to try to strike a healthy work-life KwaZulu-Natal Mpumalanga
conversations about women not being given an opportunity,” she and chemistry from the University of Lesotho. balance. Number of businesses: 16 Number of businesses: 6
says. “I step in, I claim my space and I move. If I believe this “After my BSc, I worked at a pharmaceutical company as “You can’t be in both spaces. I still do the morning rituals of
is the salary I must be paid, that is what I negotiate and when I a lab technician. I was so bored. My brother, who’s a doctor, driving the kids to school and that’s where I connect with my
get it, I’m happy. didn’t want me to pursue medicine, but I applied and got children. My weekends are spent with them. I don’t do work over
“I am not a feminist, but I am passionate about women’s into medicine. My medical degree has helped to broaden my the weekend.
rights. I have proven with Soweto Hotel that you can have a scope and helped me to be innovative in my thinking,” she “I have support from my au pairs, who help with looking after
business run entirely by women. The only male at the hotel is says. the kids, and a lady who has been with me since they were born.
the chef,” she laughs. “I’ve been lucky in life. All my qualifications were So, when I am not with them, and away on business, I am not
“In the early days of my career, and even currently, I have sat sponsored and I received scholarships. But we do need more restless that my kids are not looked after. The support has
around tables where I’m the only black woman. In this women in innovation today. For example, I have been helped me to focus and navigate between being a mother and a
environment, the onus is on me to be a voice for women and to nominated for the PwC 2015 Vision to Reality Awards and businesswoman.”
keep challenging the notion of male dominance. My motto is to Telemedicine Africa is one of the finalists. What struck me is Financing, she says, is one of the major problems facing black Eastern Cape Western Cape
keep them uncomfortable until there is transformation.” that from the top 20 finalists, my company was the only businesswomen. Number of businesses: 2 Number of businesses: 15
Sangweni-Siddo believes female entrepreneurs do not support black, female-owned business that made it,” she says. “We cannot underestimate the issue. With me, I think it was
each other enough. “We tend to want to do things on our own, Molefi shares a close bond with her sons. my skill [as a chartered accountant] that helped me with the
and are embarrassed to tell other women about our weaknesses “My boys are 13 and 16, and it’s been tough to have them funding side of the business. You cannot take for granted how
and the challenges, in case we get judged. in boarding school. But I have a strong family-support important it is to understand what a big role funding plays. The
“On the other hand, I have bumped into phenomenal women system. Being a businesswoman, I am often told that I am fact that you are a woman won’t get you anywhere if your
who are great role models. They allow others to stand on their too ambitious to have a male partner. I don’t know why this pricing is high, so I have had to make sure that we remain
shoulders. We need to keep opening doors for other women,” she is the case, because it is who I am. Perseverance, respect competitive.”
advises. – Avantika Seeth and empathy have helped me navigate through life’s Vuso believes more can be done for women to support each
challenges,” she says. other in business.
“The major challenge I had to begin my business was the “I look back at the opportunity I was given to study at the
funding. I didn’t get funding because I didn’t know anyone. I University of Cape Town in those years and if somebody had not
have 10 full-time employees and I know that my business believed in my capabilities I would have been another statistic in Zimbabwe
also supports their families, so it’s a constant challenge.” the rural areas. We need to identify other women in the rural
Molefi believes that men support each other in business areas who we can open doors for.” – Avantika Seeth Number of
more than women do. businesses: 2
TALK TO US
“Men meet at the golf course and do their deals there.
Do you think the number of female entrepreneurs in Women, unfortunately, rush home after work to look after
SA is growing at a fast enough pace? the kids, but we need to find more time to network among
SMS us on 35697 using the keyword ENTREPRENEUR ourselves,” she says.
and tell us what you think. Please include your name and “I find that the people I network with open up a lot of
province. SMSes cost R1.50 opportunities, so we as women need to make the time to
meet up.” – Avantika Seeth THEUNS KRUGER, Graphics24