Small and micro businesses remain the backbone of the South African economy, as they continue to contribute significantly to the country’s GDP.
These are some of the issues tackled through dialogue at this year’s Day 1 of the Nedbank Top Empowerment Conference 2024.
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Leanne Manas, the Moderator for the @Nedbank Top Empowerment Conference welcomes former deputy president of South Africa and current chancellor of The University of Johannesburg, Phumzile Mlambo-Ngcuka. #NedbankTopEmpowerment #TopcoMedia #business pic.twitter.com/U3FxxfEHl4
— Business Tech Africa (@BusinessTech_SA) July 17, 2024
Unlocking supply chain opportunities remains a critical step towards fostering economic growth and empowering small and micro businesses as these enterprises play a crucial role in job creation.
The Nedbank Top Empowerment Conference 2024 acts as a catalyst for transformation and is hosted annually by Topco Media.
A warm welcome from Lee-Ann Bruce, our Associate Publisher at @Topco_Media.@Nedbank #NedbankTopEmpowerment pic.twitter.com/S89qJmzDY1
— TopEmpowerment (@TopEmpowerment) July 17, 2024
The conference was established at the request of Cyril Ramaphosa and has evolved into a respected transformative platform.
This year’s conference, held at The Maslow Hotel in Sandton, Johannesburg, focused on celebrating achievements and charting a course for the sustainable and desired future for all.
Key insights from the conference:
Bridging the supply chain gap
In a panel discussion, panelists discussed unlocking supply chain opportunities for small and micro businesses and how sectors could access business supply chains.
Successful businesses have found innovative ways to integrate small and micro businesses into the supply chain. These approaches include mentorship programs, joint ventures, and supplier development initiatives.
Leveraging corporate capabilities
By leveraging broader corporate capabilities, large companies can create win-win scenarios, and strategic partnerships to enable small businesses to access markets and gain exposure.
The conversation emphasized actionable insights and real-world impact while noting how it was not only about theory but tangible results that uplifted communities and drove economic transformation.
Today we are grateful for #freedom of press and freedom of association. – @phumlambongcuka, Chancellor of @go2uj#NedbankTopEmpowerment #TopEmpowerment #TopcoMedia @Nedbank @Topco_Media pic.twitter.com/bBjFflVHl5
— TopEmpowerment (@TopEmpowerment) July 17, 2024
Why the win is necessary
When small and micro businesses profit, they not only thrive but create jobs, foster innovation, and contribute to a more inclusive economy.
As South Africa continues its journey toward prosperity, unlocking supply chain opportunities becomes a shared responsibility.
The point of the conference was to champion collaboration, mentorship, and sustainable practices. By doing so, we empower the backbone of our economy.
Also read: WATCH: Former Deputy President, Phumzile Mlambo-Ngcuka at Top Empowerment Conference 2024
