Empowering Women Entrepreneurs: The City’s Initiative to Connect Corporate Leaders with Aspiring Businesswomen

On September 3rd, a high-level roundtable discussion was initiated by Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth, and Enver Duminy, CEO of Cape Town Tourism. The event focused on “Women in Business” and brought together corporate leaders and emerging entrepreneurial stars from various sectors like boat-building, clothing and textiles, tourism, technology, and call centers.

Women’s Entrepreneurship: A Stimulus for the Country’s Economy

During the event, Alderman Vos stressed the significance of women’s entrepreneurship in stimulating the country’s economy. According to research, women are more inclined to participate in industries that foster job creation. In addition, the United Nations has reported that women reinvest 90% of their income into health, education, and the community, compared to 35% reinvested by men. This demonstrates women’s commitment to investing in future generations.

Positive Consequences of the Roundtable Discussions

Duminy expressed his belief that these events will have far-reaching positive consequences. He stated that the roundtable discussions serve as a platform to not only celebrate the accomplishments of leaders across various sectors but also to foster an environment where knowledge and experience can be shared freely. This initiative helps to reinforce the city’s commitment to nurturing talent and propelling tourism businesses to new heights.

City’s Support for Women-led Enterprises

Alderman Vos also highlighted the City’s current projects and programs aimed at supporting small and medium-sized enterprises (SMEs) and entrepreneurs. He proudly mentioned that women-led enterprises constituted around 40% of the businesses participating in their skills development workshops in the 2022/2023 financial year. Moreover, over R3.7 billion of all procurements undertaken by the City in 2022/2023 were with majority women-owned enterprises, showcasing their active support for women in business.

UVU Africa’s “Women in Business” Program

Another important initiative launched by the City is UVU Africa, a tech industry Special Purpose Vehicle. It recently opened applications for its “Women in Business” program, a 10-week training project tailored for young entrepreneurs. During the program, participants will acquire knowledge on building their businesses, receive mentorship in crafting a suitable tech strategy, and network with other female business leaders.

Equal Access to Skills, Knowledge, and Contacts

Alderman Vos concluded his remarks by emphasizing the importance of equal access to skills, knowledge, and contacts for women in the entrepreneurial world. He expressed the City’s dedication to creating a business-friendly environment that fosters an inclusive and diverse economy.

This roundtable discussion on “Women in Business,” along with other initiatives by the City, reflects a growing commitment to empowering women entrepreneurs. By connecting corporate leaders with rising entrepreneurial stars, the city is investing in the future of its economy and fostering an environment where aspirations turn into realities.