Click here for more information on Nedbank’s Small Business Services<\/strong><\/a><\/strong><\/li>\n<\/ul>\nGreen-Arch Innovations, established in 2018, is a social enterprise that adopts smart and sustainable food systems such as aquaponics to alleviate poverty and inequality in rural and urban settlements.<\/p>\n
Sponsored by Engen, co-sponsored by Nedbank and powered by Raizcorp, the popular annual competition gives budding entrepreneurs a chance to pitch their business in the hope of winning the grand prize of R1 million.<\/p>\n
One of the competition judges \u2013 Alan Shannon, Nedbank\u2019s Executive for Private Clients and Small Business Services \u2013 describes the business as a game-changing concept and an initiative primed to address a key challenge in the country.<\/p>\n
Shannon feels that South Africa can rise to the challenge of food security by investing in pioneering small businesses such as Green-Arch Innovations. It uses aquaponics, an integrated farming system to grow fish and other aquatic animals, while also producing fresh vegetables such as spinach, lettuce, and peppers.<\/p>\n
Not only does the business cater to the needs of underserved communities, but it also offers a much-needed avenue for job creation. Green-Arch Innovations has three systems across KwaZulu-Natal, Richards Bay, Tongaat and the South Coast.<\/p>\n
In terms of implementing opportunities, it has already created 45 jobs in these franchise systems for communities. With the injection of the R1 million prize, the company can work towards its goal of opening 50 franchises.<\/p>\n
Therefore, Nedbank believes that the growth of sustainable small and medium enterprises (SMEs) and entrepreneurship must be a macro-level priority, as supporting innovators such as Gugwana will undoubtedly have a positive ripple effect across every industry sector.<\/p>\n
Ultimately, SMEs are an important part of local economies, helping to create webs of financial interdependence that foster broad-based prosperity.<\/p>\n
\u2018On this journey we have met the most inspiring entrepreneurs who, against all odds and especially over the past 18 months, have continued to strive for success and relevance,\u2019 says Gugwana.<\/p>\n
\u2018We encourage business owners to soberly consider how their offer stacks up in the market. There is a blueprint to running a business, but you must bring your own uniqueness to the table. Be brave, listen and keep your eyeballs on your business.\u2019<\/p>\n
Through the Pitch & Polish competition, Nedbank aims to continue setting the stage for entrepreneurs to grow and play a greater role in the economy.<\/p>\n
The format is aligned with Nedbank\u2019s vision to encourage innovation and nurture local talent. During the competition the qualifying entrants attend comprehensive and interactive entrepreneurial training sessions while learning how to pitch like professionals.<\/p>\n
After the regional training session, contestants pitch their ideas or businesses to an audience, with many funders and investors invited to the final. Over the years finalists have received millions of rands in investments and hundreds of thousands of rands in grants.<\/p>\n
This year\u2019s runner-up, Lucky Innocent Mnikathi from Ikhahlamba Trading Enterprises, aims to join the list of small businesses making big things happen.<\/p>\n
The company renovates high-rise buildings that are then used for student accommodation. They currently have contracts with the Durban University of Technology. Once again, the aim is to benefit communities and simultaneously create employment opportunities.<\/p>\n
Shannon, along with other the judges, is pleased to back these amazing entrepreneurs and reiterated the need to continually do so with the many emerging trailblazers across South Africa: \u2018Nedbank believes that access to technology, training and financing tools are the machinery needed for financial and economic emancipation.\u2019<\/p>\n
\u2018With every inspiring entrepreneur such as Gugwana entering the market, backed by their respective value chains and financial institutions, South Africa takes another essential step towards growing prosperity. It\u2019s a pitch-perfect opportunity every time.\u2019<\/p>\n
Many inspired new entrepreneurs already have their eyes laser-focused on this year\u2019s Pitch & Polish competition. Entries open on 13 March 2023, with a world of opportunity ready to be seized.<\/p>\n
Click here for more information on Nedbank’s Small Business Services<\/strong><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"The winner of the 12th Engen Pitch & Polish Competition \u2013 Luvo Gugwana, Founder of Green-Arch Innovations \u2013 has become a shining example of why investing in small businesses is integral to the country\u2019s economic growth.<\/p>\n","protected":false},"author":57,"featured_media":671003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[1799],"class_list":["post-669413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-nedbank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/669413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=669413"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/669413\/revisions"}],"predecessor-version":[{"id":671001,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/669413\/revisions\/671001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/671003"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=669413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=669413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=669413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}